A while back I did a 2011 year end thread about the savings I realized while using WMO blend in 2011. (I can't find that thread now ) Well it turns out the #'s are even better than expected.
At least in my scenario, being self employed, I get the privilege of expensing tons and tons of miles for "business mileage" I am NOT advocating anyone create tax fraud here, or do some creative tax work, however it mileage deductions, when used right are legit deductions...
Anyway, Last year, for the 1st half of 2011, the writeoff amt was .51 IIRC, and .55 the 2nd half of the year. This made a NICE deduction for my 2011 tax return (unfortunately I still paid a butt load of taxes.
a few weeks back)
So lets for a minute assume one has a paid for Centrifuge system, and oil collection system. Lets also assume one drives 25k miles a year that can be legally deducted on taxes.
Costs of making the fuel (using my blend) = $.50 a gallon
Avg. Fuel Mileage= 14 mpg
Total Gallons used= 1786 gallons (to go 25k miles)
Total Costs to make and use fuel= $893.50
Total Costs if ran Diesel only (assuming $4.00 a gallon static price) = $7140
Total Fuel Savings Cost= $6246.00
Mileage Deductions (where applcable) 25k * .52= $13,000 deductible on taxes
It's a little hard to calculate a hard costs savings annually, since the tax deduction isn't a 1:1 scenario. Suffice it to say, in the above listed scenario, it's pretty reasonable to say that at least an $8,000 upswing is legitimate! Me loves my old and slow IDI. Its making me (or saving me depends how you look at it) money just by driving her!
At least in my scenario, being self employed, I get the privilege of expensing tons and tons of miles for "business mileage" I am NOT advocating anyone create tax fraud here, or do some creative tax work, however it mileage deductions, when used right are legit deductions...
Anyway, Last year, for the 1st half of 2011, the writeoff amt was .51 IIRC, and .55 the 2nd half of the year. This made a NICE deduction for my 2011 tax return (unfortunately I still paid a butt load of taxes.
a few weeks back)So lets for a minute assume one has a paid for Centrifuge system, and oil collection system. Lets also assume one drives 25k miles a year that can be legally deducted on taxes.
Costs of making the fuel (using my blend) = $.50 a gallon
Avg. Fuel Mileage= 14 mpg
Total Gallons used= 1786 gallons (to go 25k miles)
Total Costs to make and use fuel= $893.50
Total Costs if ran Diesel only (assuming $4.00 a gallon static price) = $7140
Total Fuel Savings Cost= $6246.00
Mileage Deductions (where applcable) 25k * .52= $13,000 deductible on taxes
It's a little hard to calculate a hard costs savings annually, since the tax deduction isn't a 1:1 scenario. Suffice it to say, in the above listed scenario, it's pretty reasonable to say that at least an $8,000 upswing is legitimate! Me loves my old and slow IDI. Its making me (or saving me depends how you look at it) money just by driving her!
