How Do I Enter Mileage Without Odometer Readings Into P3?

[ChefJoyJ]

I'm sitting here with a stack of receipts, which I'm entering into P3 to try to catch up and get ahead of the game...and I haven't been logging my odometer readings, just keeping track of the mileage (thanks to MapQuest). How do I enter mileage without odometer readings into P3??? Am I just missing the obvious?

 

[pc_jessica]

im not sure how to do that either...however i am just keeping my logged on a notepad i will then use at the end of the year for taxes...hope that is okay!

 

[cindylpal]

Pampered Partners Plus...."file" ..."new"...."income/expense". I'm glad I saw this, I way over due on mine too!!!

 

[raebates]

You want to click on "rate-based." You can enter the number of miles. P3 will then calculate the dollar amount.

 

[cindylpal]

...and if you're just entering the miles, it's "rate base"!

 

[ChefJoyJ]

You want to click on "rate-based." You can enter the number of miles. P3 will then calculate the dollar amount.

I tried that, but it won't let me enter the decimal point. It was 2.8 miles (round trip), since she lives in my neighborhood. How do I enter decimal points?

 

[cindylpal]

sorry....as you can tell, I haven't done it for a while!!! I would just round it up or down whichever is closer...we really can't do anything else unless we enter our "start and stop" and I NEVER keep track of that!!!!

 

[ChefJoyJ]

sorry....as you can tell, I haven't done it for a while!!! I would just round it up or down whichever is closer...we really can't do anything else unless we enter our "start and stop" and I NEVER keep track of that!!!!

How would the IRS feel about rounding? I personally have no problem doing it.

 

[raebates]

I round my miles. There is no way to put partial miles, so just use standard rounding. If it's .1 to .4, round down. If it's .5 to .9, round up.

 

[ChefJoyJ]

Thanks Rae!!

 

[wadesgirl]

I go by the full mile off my odometer. At the beginning of the year I bought a mileage book from ebay and keep a pen in it at all times. You can write off more than just your shows but also trips to the bank, grocery store, office supply stores, etc.

 

[topchef.heather]

You want to click on "rate-based." You can enter the number of miles. P3 will then calculate the dollar amount.

So if we are just entering in the miles, what is the rate we use to calculate it?

 

[topchef.heather]

Nevermind, I didn't see the drop down box...

 

[esavvymom]

So if we are just entering in the miles, what is the rate we use to calculate it?

IRS.gov site says it is 55 cents per mile for 2009.

 

[raebates]

P3 calculates the legal rate automatically.

 

[esavvymom]

P3 calculates the legal rate automatically.

Last year I had to manually enter it- remember the rate was different half way through the year. Mine wasn't entering the correct amount...and I had updates, etc. *Shrug* I haven't tried it yet for this year...I'm just a WEEE Bit behind..

 

[Intrepid_Chef]

I just got through entering stuff ... it entered 48 cents instead of 55. Not re-entering it again. Going to the accountant and I'm sure she'll sort it out!

 

[esavvymom]

P3 calculates the legal rate automatically.

I've never had P3 enter the legal rate automatically. It seems to enter the last amount that I entered.

2009 is 0.55 by the way.

 

[chefann]

To change the rate, you need to go into an expense item (it's easiest, I find, to create a new one). Then click the "Edit categories" link. Select mileage from the list, and change the amount. All mileage items you enter after that will use the new rate.

 

[NooraK]

How would the IRS feel about rounding? I personally have no problem doing it.

When you do your taxes the form doesn't take decimals anyway, so I would think that means the IRS is fine with rounding. Although, I'm sure they'd expect you to round down when you're at less than .5.

 

[pcchefjane]

I agree with ChefAnn! You just enter the 2009 rate. I just "edited" the mileage rate. It will keep whatever you last put in. That really is my biggest expense since I count EVERYTHING I do. If I go to Wal-mart and give someone a catalog, it is "business mileage". If I go to the bank, the Y, Weight Watchers, etc. and give out a catalog and/or take an order, it goes down as business mileage! You would be amazed how fast it adds up!