Hi, disclaimer: I am not an accountant, I am not from the US.
But let us just think together. The only reason you would want to use beancount to record the IRS deductible mileage instead of just writing it somewhere on a paper is to be able to track the future tax refund. So, this is how I would do it: ================================================================ ; https://groups.google.com/g/beancount/c/oBLRF71jDqY 2020-01-01 commodity MILE 2020-01-01 commodity USD 2020-01-01 open Assets:Bank:Checking USD 2020-01-01 open Assets:Deffered-Tax 2020-01-01 open Income:Tax-Refund:Car-Mileage 2020-01-02 * "Driving car somewhere, which is tax deductible" ; I think you need to put here not the actual rate (e.g. 65.5 cents/mile), but expected tax return you will get. Let us assume 0.3 USD/mile ; also cgeck this https://www.accaglobal.com/gb/en/student/exam-support-resources/fundamentals-exams-study-resources/f7/technical-articles/deferred-tax.html ; and this ; and this https://getswipe.in/blog/post/concept-of-deferred-tax-and-its-presentation-in-financial-statements Income:Tax-Refund:Car-Mileage -100 MILE @ 0.3 USD Assets:Deffered-Tax 30 USD 2020-03-02 * "Tax authorities" "Tax refund received" Assets:Bank:Checking 40 USD Assets:Deffered-Tax -40 USD ; You will probably never guess the tax return 100% correctly, so you will need to pad it 2020-03-02 pad Assets:Deffered-Tax Income:Tax-Refund 2020-03-03 balance Assets:Deffered-Tax 0 USD ;=============================================================== Does it make sense? On Monday, February 26, 2024 at 10:57:30 PM UTC+1 CD wrote: > I would have thought I would have found something on this from a search, > but I haven't. > > What is the best practice for recording mileage on business trips and what > are the accounts that are used for this if you are using the IRS standard > deduction per mile? > > Does a new commodity/currency need to be created for this? > -- You received this message because you are subscribed to the Google Groups "Beancount" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/beancount/fd9c79c4-75e0-4174-9023-e25856aa5c11n%40googlegroups.com.
