Does the expense given for operating costs for a vehicle include fuel, repairs, and insurance? The table says nothing about what it includes. For Tampa here it says a total of $265, and let me tell you, $265 barely pays my monthly gas, let alone the ridiculous insurance prices here. Anyone know the answer to this?
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transportation expense chart question for new law
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On my forms I listed gas only under transportation cost.
I listed my insurance and maintenance under "other expenses".
Maybe someone else can offer more infor regarding this under the new laws.
MinnyMinny
"It's amazing the paths that our feet sometimes follow in life".
My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.
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The IRS allows $.405 cents per mile for business mileage. At $265 that's only 654 miles a month or 7,851 miles per year. Since the average is between 12,000-15,000 miles a year that most people drive, I would think that you could get by with the $265 for just gas.
We listed ours as $260 per month for me and $240 a month for my wife and that included everything except ins. which we listed separately, however neither of us have long commutes to work and no kids at home to have to drive around. I remember when I was younger, I was always putting more than 25K a year on my car.
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