If i purchase a new or used car can i claim it or a portion of it on my taxes if i use it to drive for busines

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If i purchase a new or used car can i claim it or a portion of it on my taxes if i use it to drive for busines

2006-11-25 20:47:31 · 3 answers · asked by hawnbigboy 1 in Business & Finance ➔ Taxes ➔ United States

3 answers

yes

2006-11-25 20:49:05 · answer #1 · answered by mane 5 · 0⤊ 0⤋

You have two options. You can claim a standard mileage rate for business miles, or you can claim actual expenses plus depreciation. For the second option, you must record all expenses related to the car and the percentage of business use. Gas, maintenance, etc. is deductible to the percentage of business use. Business related parking is deductible in full. Costs related to commuting to and from work are usually not considered business related.

2006-11-26 07:13:07 · answer #2 · answered by STEVEN F 7 · 1⤊ 0⤋

yes

2006-11-26 04:54:43 · answer #3 · answered by Anonymous · 0⤊ 0⤋