Hey Tom (or anyone else who attended),
In the webinar for the 2018 tax changes (thanks again for doing that) I believe you mentioned that even when taking the standard mileage deduction you can still claim the business portion of the loan interest and vehicle property tax you paid for a new car purchase. We did purchase a new vehicle that is used time/space with the daycare. Should I claim these as deductions in my schedule C or is there somewhere in specific I need to claim this related to my vehicle deduction? Since I'm using standard mileage rate, I can't really itemize the vehicle expenses.
Thanks!
Tim
In the webinar for the 2018 tax changes (thanks again for doing that) I believe you mentioned that even when taking the standard mileage deduction you can still claim the business portion of the loan interest and vehicle property tax you paid for a new car purchase. We did purchase a new vehicle that is used time/space with the daycare. Should I claim these as deductions in my schedule C or is there somewhere in specific I need to claim this related to my vehicle deduction? Since I'm using standard mileage rate, I can't really itemize the vehicle expenses.
Thanks!
Tim
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