As a business owner, there comes a time when you have to travel to a convention, or to a client’s location in order to attend a seminar, workshop or close a business deal. When your business requires you to travel beyond the boundaries of your business structure, it is critical that you carefully document this event to substantiate its purpose. Creating a travel itinerary is a sure way to satisfy this criteria for future reference and for tax purposes. When you’re traveling by personal automobile, there is two methods of deducting this expense, reimbursable mileage rate and actual cost. We will speak of the actual reimbursable cost here.
When traveling for business purposes, your cost is allowable for deductibility. Your net business travel miles by automobile is 100% deductible based on the federal mileage rate during the year of travel. This expense is deducted on form 
2106 unreimbursed employee expenses. Exception to this rule is when your employer has an accountable plan that reimburses you for all qualified business travel expenses related to your miles traveled. Be sure not to double dip on this expense. It will cost you if caught and the penalty will hurt you in the event of an audit by the IRS. The IRS scrutinize travel and entertainment (T&E) expense deduction very closely for outliers. Avoid this penalty at all cost.
Mileage Log
You will need to be able to produce written documentation of your driven miles if requested by the IRS. This evidentiary proof is what they look for when you are undergoing a tax audit. Many taxpayers fail to keep such a simple book available to them in their car. I recommend you keep it in your glove compartment and it will be available whenever you are on the road. This travel log can be purchased at many retail office supply stores. There are many apps available that will do the same as well.
It is not difficult to recreate your mileage, but contact me if you need my assistance creating such a log. Avoid the hassle. Log the miles as you go and get it over with. I like to hear from you if you find this information useful. Leave me your comments below.