Tweet
what are the rules for writing off your vehcile for daycare???
thank everyone and happy saturday!!!!!1 hope your having a great weekend
thank everyone and happy saturday!!!!!1 hope your having a great weekend
-
-
Vehicle Expenses
You can deduct trips you take that are primarily for business purposes. There are two ways to claim care expenses. If you use the standard mileage rate you can deduct $.50 a mile for 2010, plus the business portion of car loan interest, personal property tax, and parking expenses.
The second way is to claim the business portion of all the actual expenses of operating the car.
The business portion is determined by adding up all the business mile and dividing the total by the total number of miles the car was driven in the year. -
Thank you for the information. You make it sound so easy....
I read that if I use the vehicle more for business than personal is the only way that I can write off the car...Is that true?Comment
-
Vehicle Expenses
No, you can deduct vehicle expenses regardless of how little you use it for your business.
There is a special rule regarding depreciation that kicks in if you are using your vehicle more than 50% for your business, but that's all.Comment
Comment