Welcome Guest. Sign in or Signup

7 Answers

what form do i need to get my refund of gas expenses?

Asked by: epondel 485 views YA Discussion

i will start my small business as driver i use my car, gas and tools. what form do i need to get good refund and pay less tax, i do have LLC ( 1 member) and i m self employee, i live in PA.
thank you!

How others found here:

  • can what forms can i use to deduct gas and tools for work on my tax return
  • do you get return on gas
  • what form to use for gas expenses

7 Answers

  1. Rob on Dec 20, 2012 Reply

    u do not get a ‘refund’ for your expenses.

    u want to visit library for books on taxes
    of small businesses.

    the expenses of business are written off against
    your income to find net profits.
    net profits are taxed.

    Visit IRS.gov for proper paper work.
    visit your state income tax site also.

    0 Votes Thumb up 0 Votes Thumb down 0 Votes

  2. Cathi K on Dec 20, 2012 Reply

    You keep a mileage log. You do not get refunded. File a schedule C and SE.

    0 Votes Thumb up 0 Votes Thumb down 0 Votes

  3. gringa1964 on Dec 20, 2012 Reply

    You need to file your regular Income Tax Return. If you elect to file income for your LLC as a sole proprietor, you report your income and offset it with expenses on gas, tools and other business expenses on Form 1040 Schedule C. If you elect to file as Corporation or Partnership you need to file business income tax return, where you take the deduct all your business expenses from gross revenue.

    0 Votes Thumb up 0 Votes Thumb down 0 Votes

  4. ninasgramma on Dec 20, 2012 Reply

    First, keep meticulous records of your mileage and other expenses. Also document any payments use receive. When you do your tax return, you will file Schedule C and claim these expenses.

    If you have not paid taxes on your own, using Form 1040-ES, then you will owe unless you qualify for credits like the Earned Income Credit. The best outcome for you may be to get a modest refund, regardless of your expenses.

    0 Votes Thumb up 0 Votes Thumb down 0 Votes

  5. Bobbie on Dec 20, 2012 Reply

    And you really do have a lot to learn about filling out the schedule C and the SE of your self employment 1040 income tax return and how you will have to claim your ORDINARY and NECESSARY business expense on the correct forms and lines of the schedule C for this purpose and time in your life.
    As you will NOT get any direct REFUND amount just for your gas expenses for this purpose and time in your life.
    http://www.irs.gov and use the search box for the below referenced items to try and learn some of the things that you really do NEED to KNOW to try and get your business and your record and bookkeeping set up correctly in order to have the written proof of all of receipts for payment amounts that you do receive daily and of your ordinary and necessary business expenses on a daily basis in case the IRS does every want you to VERIFY any of the information that you enter on your schedule C and your SE of your 1040 income tax return for that tax year.
    Starting a Business


    Publication 583 (12/2011), Starting a Business and Keeping …


    Small Business and Self-Employed Tax Center


    Hope that you find the above enclosed information useful. 12/19/2012

    0 Votes Thumb up 0 Votes Thumb down 0 Votes

  6. Judy on Dec 20, 2012 Reply

    You don’t get a refund of your gas expenses. If you kept the required log of all of your miles on that vehicle, you can deduct miles you drove for business, either a flat rate per business mile or else a % of actual expenses. For federal this will go on schedule C.

    0 Votes Thumb up 0 Votes Thumb down 0 Votes

  7. tro on Dec 20, 2012 Reply

    you won’t get any refund for your gas from IRS regardless of any form you file
    if you are self employed, you will report that income on Sch C as a sole proprietor, you can claim the vehicle expenses you can substantiate with a current log of your business miles(commuting is NOT deductible)
    it is obvious you do not understand an LLC, that is a state designation, it is not recognized by IRS
    your business is either sole proprietor, a Corporation or a Partnership
    you are not an employee of yourself, it is obvious you are not a partnership and if you have a corporation you can be paid by the corporation as an employee which will involve considerably more than you seem to be aware or

    0 Votes Thumb up 0 Votes Thumb down 0 Votes

Your Reply