A Break on Mileage Deductions vs Profit Share

By
Real Estate Agent with Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri MO Salesperson#2004006871

Have you heard?  We are going to get a break on the deduction for mileage on our taxes for this year.  Yes, that is right, a whole .08 cents more per mile. 

I am happy to have the additional deduction but gas has been expensive all year not just from July 1st to December 31st.  Wouldn't you rather have a share in the profits of Exxon/Mobil?  They only posted $11.8 billion in profits in the second quarter.

So which would you vote for:  mileage deduction break or profit share with Exxon/Mobil?

Posted by

Ann Hayden Real Estate Agent St. Louis Missouri

Call or Text:  636-399-7544

with

Berkshire Hathaway HomeServices Select Properties

1000 Schnucks Woods Mill Drive

Town and Country, MO 63017

636-394-2424

For All Your real estate needs:  www.SelectAnn.com

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© Ann Hayden, 2008-2020.

Views expressed are not the opinion of Berkshire Hathaway HomeServices Select Properties.

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Tags:
mileage deduction
profit sharing
deduction or profit share
exxon mobil profits

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Rainer
8,335
Billy Boerner
STLhomeinspector.com - Saint Louis, MO
Home Inspector

hmmm I'm not sure on that one.  lol :)  If I had to pick one I would choose profit share.  Then I would retire. ;)

 

Aug 01, 2008 09:19 AM #1
Rainmaker
961,405
Ann Hayden 636-399-7544
Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri - Chesterfield, MO
SelectAnn.com

Billy,

ME TOO!

Ann

Aug 01, 2008 09:24 AM #2
Rainmaker
299,353
Kathy McGraw
CELLing Realty - White Water, CA
Riverside County CA Real Estate

Ann now that's a hard decision ...LOL....do you think Exon would share with us :)

Aug 29, 2008 03:24 PM #3
Rainmaker
961,405
Ann Hayden 636-399-7544
Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri - Chesterfield, MO
SelectAnn.com

Kathy,

I think Exxon should share with us....

How is it the price goes up immediately at the pump when the price of oil increases?  And when oil goes down, it takes weeks to see a decrease in the price at the pump?  I am a bit confused about this....;-).

Happy Labor Day weekend,

Ann

Aug 31, 2008 01:53 AM #4
Rainmaker
1,007,798
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Ann:  Just think... they get to use their profit share... and then they get to use that mileage tax deduction, too.  They sure do need the tax break, don't they ?   :)

Sep 06, 2008 07:34 AM #5
Rainmaker
961,405
Ann Hayden 636-399-7544
Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri - Chesterfield, MO
SelectAnn.com

Karen,

I am certain they could not survive without the tax break.... ;-)

Ann

Sep 06, 2008 07:45 AM #6
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Rainmaker
961,405

Ann Hayden 636-399-7544

SelectAnn.com
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