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Automobile Expenses |
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Automobile Expenses Taxpayers can deduct automobile expenses only to the extent the automobile is used for business, for charitable purposes, for moving expense purposes, and for medical purposes. Expenses can be figured using the actual cost method (defined elsewhere) or by using the standard mileage rate (defined elsewhere). Automobile Expenses (Regular Method) A deduction for business use of the taxpayer's vehicle based on actual cost of gas, oil, repairs, tires, washing, etc. plus a deduction for depreciation. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Automobile expenses for business use, using either actual costs of repair and gas or the standard mileage deduction. A home-based business can be a very lucrative and rewarding venture, especially for parents who are looking to spend more time at home with their children The added benefits of not fighting traffic, spending less money on gasoline and automobile expenses, and not having to commit to "office hours" can make this a very satisfying experience The plaintiffs were salespersons who sued for all of the automobile expenses they incurred in performing their duties. |
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