if you use actual expense do you put down gas for the whole year?
Example $5,000 gas (even if it is business and personal gas and the miles will allocate the amount)
Example car ins $200 x 12 $2,400 or do you only take like 10% of that if the schedule C is a small income amount?
The 1099 is only for $1,800 as it is a start up business
Could someone tell me what to do with this. Thank you
Assuming they were in business the entire year, you would use total annual miles vs business miles to get it to allocate the proper % of a full years worth of actual expenses.
If they were in business only a portion of the year, youd only enter actual expenses for that period, not the whole year.
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