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Starting Your Business

What are Business Expenses

Car & Truck Expenses

If you use your vehicle for business purposes, you ordinarily can deduct the cost of operating and maintaining your vehicle. You generally can use one of the two following methods to figure your deductible expenses.

  • Standard mileage rate.
  • Actual car expenses

See Publication 463, Travel, Entertainment, Gift and Car Expenses.


Important References

Publication 334 Tax Guide for Small Business
Publication 463 Travel, Entertainment, Gift and Car Expenses
Publication 553 Highlights of 2005 Tax Changes