Posts Tagged ‘Depreciation’
Business Vehicle Expenses – Standard Mileage Rate vs. Actual Cost
By Luci Roseman Taxpayers using their vehicle for business purposes can choose to use the standard mileage rate or deduct the actual costs of using the vehicle. The standard mileage…
Read MoreBusiness Vehicle Expenses – Depreciation Allowed
By Luci Roseman Taxpayers are able to depreciate their vehicle if it is used for business purposes. Generally the 200% Declining Balance Method is used over a five year life.…
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