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If you are eligible to deduct car expenses for your business, then do consider deducting all you are eligible for. Below is some general information copied in from an IRS fact sheet ...
If the business vehicle is financed with a loan, the payments are not a business expense. However, the interest on a car loan – which ... viewed as "off balance sheet" expenses, and the full ...
When you use your car for both personal and business reasons and you are not fully reimbursed through your employer for the business expenses, you can deduct those costs from your taxes.
The first one is to determine the standard mileage rate and the other is to determine the actual expense used on the car. Qualifying for both methods can happen, meaning you might have to ...
You can deduct the transportation costs, such as airfare or car ... expenses if audited by the IRS. Keep all of your business-travel receipts and file them safely. Maintain an accurate log of ...
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