Tracking mileage for your furniture painting business is a great tax deduction as a business expense. The standard rate for 2017 is 53.5 cents per mile for a car, van, pickup truck or panel truck. This is a serious deduction. It doesn't take very many miles for the dollars to quickly add up. A ten mile drive is worth over $5!
As a self-employed business owner, there is no cap on the amount you can legally claim for mileage. Just make sure you have good record keeping to prove miles claimed if you ever audited.
It's important to make sure to keep careful records to track your mileage. There are many new apps available on your phone or iPad to do this if you aren't good at keeping a paper log. When logging your mileage make sure you include the date, beginning and ending mileage, purpose and destination.
Here are miles you should be tracking for deductions:
Delivery of pieces to customer
Pick up of inventory pieces acquired through buy, sale, trade sites
Pick up of custom work order pieces
Garage sales, flea markets, thrift store shopping, curbside picking
Purchasing supplies, tools, parts, staging items
Trips to your booth, consignment store, or shop
Drop off of items at shipping locations
Business - banking, post office, office supplies, tax preparation, licensing
Charity - delivering donations, giving presentations
Consultations with clients
On-site custom work
Classes, seminars, training, business related meetings, home and garden shows
Every mile you don't track is money out of your pocket!