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From the IRS Website: http://www.irs.gov/businesses/small/article/0,,id=109807,00.html*
Business Use of Your Car
If you use your car in your business, you can deduct car expenses. If you use your car for both business and personal purposes, you must divide your expenses based on actual mileage. Refer to http://www.irs.gov/publications/p463/index.html, Travel, Entertainment, Gift, and Car Expenses. For a list of current and prior year mileage rates see the http://www.irs.gov/taxpros/article/0,,id=156624,00.html.
Is the business purchasing the car for you to use?? or are you purchasing the car to be used1 of 1 people found this helpful
for the business, as well as some personal??
Having the company logo on the car is GREAT advertising and marketing.
Yes, you certainly can! Just a tip from me, a former income tax preparer, both business and personal tax returns. Start keeping a precise and up-to-date mileage chart book. Be sure to indicate beginning and ending mileage for each car trip as well as the purpose of the trip.
What if you ride your bike to work-- will that count, too?