Originally Posted by toddbishop
You generally don't deduct the actual fuel cost, you deduct a standard rate for all the miles you travel for anything music related-- going to gigs, going to rehearsals, to the studio, to the record store, drum shop, or Staples or wherever for office supplies, etc, etc.
Actually, you simply report the eligible miles, and your tax guy (or IRS-approved software) applies the correct deduction, as that has changed with the rising cost of fuel. I don't know what the per-mile rate is, but it doesn't really matter, we get what we get.
In addition, repairs and maintenance are deuctible if
they exceed the amount being claimed for mileage. But that amount is pro-rated at the percentage of the amount of business miles compared to all miles driven that year. Basically, you can claim the higher
amount between the two, but not both.