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