Record a trip in Money
Money can help
you track your business use of vehicles so that it's easy to report
your business usage to the IRS at tax time. Money also uses this
information to estimate your taxes.
- Click Business, click
Resources, and then click Mileage
Tracking.
- Click New.
- Enter the appropriate information, and then click
Done.
Money calculates the total allowable deduction for this
trip.
Notes
- You can change the rate per mile that the IRS allows as a
deduction for business mileage. On the View business
trips page, click Mileage Rates, and then
enter the year and the mileage rate per dollar (for example, for
37.5 cents, enter 0.375).
- You can create a summary report that includes the details of
your business trips. Click Reports, and then click
Business Reports. Under Taxes,
click Tax Software Report. In the left pane under
Common tasks, click Customize. On
the Rows & Columns tab, click Take the
standard mileage rate and Tax
transactions, and then click OK.
