2015 Tax Deduction Tips for Real Estate Investors - Mileage
I just attended a Savannah Area REALTOR hosted seminar on 2015 tax deduction strategies. Check out this tip I just learned: Did you know you can use something called the 90-day Test when you are deducting business mileage driven? First of all, you will earn more by using the actual expenses vs. mileage deduction method. Second, instead of being burdened by recording your trips all year, just make sure to do so accurately for 3 months, then apply that number to the rest of the year. (disclaimer: I'm not a tax pro)
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