Profit Fuel Gauges Discounted Fuel Price OR Receipt Fuel Price
I am signed up for Lets Truck Accounting. I want to enter the full cash price in my profit gauges/fuel gauges, because I want to maximize my expenses to minimize my tax liability. I have receipts to show the full price for audits.
My Comdata weekly statement shows the cash price on one line and the actual discounted price paid below it.
I would like to get a true picture of my actual real fuel spending without entering the discount price in profit/fuel gauges. However, paying less tax is a higher priority.
I'd like to hear how other Owner Operators handle this and if Lets Truck has a solution or workaround, other than entering a periodic total fuel discount. If I did enter a periodic line item for the discount, can that be excluded at year end tax time?
Is this a good question?