Travel & parking reimbursements -- Do you bother with the small stuff? I do...

So, a friend of mine who shops says she doesn't even bother worrying about the small stuff for reimbursements when shopping but I sweat it... well, I don't sweat it, but I am sure to log and track it.

Here's what I mean... there's a parking charge of $.25 per 30 minutes at one location I visit and there's a $.40 toll booth on the way there. I spend around $1.05-$1.30 when doing this trip on parking and tolls. And I log it for reimbursement. How about you guys?

MegglesKat

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If you are doing a shop where the MSC will reimburse for tolls and parking, go for it. I don't, so I keep track of every penny that is not reimbursed in a column in my Excel worksheet. At the end of the year, the total goes into my income tax. If I am required to spend a dollar in a state where the sales tax is 7%, that $0.07 gets entered, After awhile, all of those little things becomes real money.

Shopping Southeast Pennsylvania, Delaware above the canal, and South Jersey since 2008
I keep track of every penny on my tracker. If I can reasonably deduct it from my taxes if none of my projects for that trip couldn't cover it, then that's what I'll do.

Shopping the Greater Denver Area, Colorado Springs and in-between in Colorado. 33 year old male and willing to travel!
Tolls and parking are deductible expenses on your Schedule C in addition to your mileage or amortization of your vehicle. They should have a separate column on your spreadsheet if you are in an area with many of these expenses that are not reimbursed. Do get and save receipts for these expenses.
@Flash wrote:

Tolls and parking are deductible expenses on your Schedule C in addition to your mileage or amortization of your vehicle. They should have a separate column on your spreadsheet if you are in an area with many of these expenses that are not reimbursed. Do get and save receipts for these expenses.

I definitely do log it all. I was just talking with a friend who mentioned she didn't bother with it. I'm obsessed with even the tiny charges. I write down the milemarkers and roads too for verification.

The bigger stuff-- there are four tolls in my area at $2 each for three of them and $0.40 for the last. If you make those trips often enough, $12.80 a day adds up.

MegglesKat
Nothing small about this stuff! I have an automated toll payment/tracker installed on my vehicle. I have it set to automatically "top up" from a credit card when I run low on the balance. At the end of the year I can print out an itemized account of all of the toll travel for the year that matches my written trip records. Since I only use toll roads on MS business trips, and the Mid-Atlantic long routes are almost all toll, that is a lot of tolls. Local metered parking is paid using an app, which also provides a time/date record of expenses. Airport parking is paid by credit card and when the cc bills arrive I circle all business expenses, add notes as needed, and file those in the year's tax fold to be tallied in April. If I have to plug a parking meter with coins, or use public transportation to access a shop, I just note those in my mileage log. (Side note for public transit cost and explanation, of course.). At tax prep time I just gather those sources and have what I need, computed and entered in Turbo Tax, all within about 15 minutes.

Based in MD, near DC
Shopping from the Carolinas to New York
Have video cam; will travel

Poor customer service? Don't get mad; get video.


Edited 1 time(s). Last edit at 09/24/2016 12:53PM by walesmaven.
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