Using a Vehicle for Business: AIRS rules and exceptions abound, but there are some questions we can answer simply.Next to your home, your car is probably the most expensive investment you make. And the costs of paying for and maintaining it can be considerable. Can you recoup some of your investment by claiming vehicle expenses on your tax return?Sometimes. The IRS has many restrictions on the business use of a vehicle, and those restrictions have many exceptions. Better to know these upfront than to have to correct a tax return after you’ve filed it. Here are some questions and answers that may help you decide whether you’re eligible.
Some common questions include:
Using a Vehicle for Business: Q&A
How does the IRS identify a vehicle?
What are transportation expenses?
What if Im on an overnight business trip away from home?
What if I use my car for both business and personal purposes?
I work in a home office. Can I deduct any driving expenses?
How do I calculate my deductible expenses?
Depreciation? Isnt that difficult to calculate?
Can I take a Section 179 deduction for my vehicle?
What kind of vehicle expense records do I need to maintain?
Where will I be reporting transportation expenses?