Vehicle Log Templates

When a motor vehicle expenses are being claimed, one strategy for substantiating is to keep up a Car Log. A Car Log is a composed record of your business use of a vehicle over a time of at least twelve constant weeks. A Car Log should contain the overall expense of a car for the business travel of the entire year.

Your employment may require you to use your own private vehicle or car for a scope of business activities; for example going to customer sites, travel between areas, sales calls etc. Then keeping a Car Log can be an incredible approach to guaranty your maximum vehicle or car tax deduction in your tax return. A Car Log document is a basic way to file your business related vehicle expenses; using this log one could save a lot of budget and prove work efficiency.

Vehicle Log Example

A Auto Vehicle Log is a record of the aggregate number of business kilometres you have gone over at least a 12-week time period. All through this 12-week time period, you need to record each business related trip that you make in your car. The genuine business kilometres for the 12 weeks are then separated into the aggregate kilometres went in that 12-week time period along these lines giving a real business use rate.

For example, you have traveled an aggregate of 4,000 kilometres during the last 12-week Car Log period and during that time roughly 50% of your car use was for business purposes then you are being qualified for claiming half of your auto working expenses in your tax return. In this way, if your aggregate vehicle costs for the expense year were roughly $10,000 then you can claim half of your aggregate costs, based on the business to total costs ratio.

Free Vehicle Log Templates

Here are several free Vehicle Log Templates in MS Word and MS Excel to assist you.

Vehicle Maintenance Log Template 01

Download link for this Vehicle Maintenance Log Template 01 in MS Word format,

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Vehicle Maintenance Log Template 02

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Vehicle Maintenance Log Template 03

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Vehicle Maintenance Log Template 04

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Vehicle Maintenance Log Template 05

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Vehicle Maintenance Log Template 06

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Vehicle Maintenance Log Template 07

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Vehicle Maintenance Log Template 08

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Vehicle Maintenance Log Template 09

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Vehicle Maintenance Log Template 10

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Vehicle Maintenance Log Template 11

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Vehicle Maintenance Log Template 12

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Vehicle Maintenance Log Template 13

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There are few things which should be kept in mind before making a Car Log. The Car Log must contain the start and end time period of the journey, the odometer (which is an instrument which is use to quantify the distance traveled by your vehicle) readings at the beginning and end of the journey, the aggregate number of kilometres traveled during that period, the aggregate number of kilometres went for the business purposes in a similar time period, record of every individual trip, and total kilometres traveled.

You can use the records of your Car Log to figure out what rate of all your travel was accomplished for business purposes, include the aggregate costs and loss expenses during that period, and multiply the business travel percentage by the total expenses amount. Compose the sum in the proper claim box on your tax return sheet. Guarantee you keep your Car Log in a protected format and location for no less than five years. You might be approached to give confirmation to your claim or you might be evaluated later on. It likewise helps on the off chance that you have past logbooks while setting up business rates for future logbooks.

Car Log is the most important document for managing the expenses of your vehicle or for differentiating the expenses of your vehicle between your own private usage and business use for the purpose of tax deduction.