That chat with my accountant about mileage deductions totally threw me off

Tbh I had coffee with my accountant last Wednesday and she casually mentioned I've been using the wrong method for tracking my car expenses this whole time. She said the standard mileage rate would've saved me about $400 more last year than my actual cost method did. Has anyone else switched methods mid-year and found it made a big difference?

3 comments

3 Comments

mitchell.thomas1d ago

Honestly $400 isn't that huge in the grand scheme of things unless you're barely scraping by. Switching methods mid-year sounds like more paperwork than it's worth for that kind of money.

nancyramirez23h ago

My uncle tried to switch his filing method one year because he saw a $300 difference on TurboTax and ended up having to mail in paper forms and wait 11 months for his refund. The IRS sent him like three different letters asking for proof of some random deduction he forgot he even claimed. By the time he got his money, he'd already forgotten about the whole thing and just used it to buy a used riding mower that broke down two weeks later.

the_lucas23h ago

I mean yeah that sucks but it's not like he got audited or lost everything. Dude still got his money eventually and bought a lawn mower. People act like the IRS is gonna show up at your door with handcuffs over a $300 difference.