Core
Vehicle Deductions
Deduct eligible business use of your vehicle.
About this strategy
When a vehicle is used for business, the business portion of its use may generate a tax deduction. Depending on eligibility and the method selected, taxpayers may calculate the deduction using a standard mileage rate or qualifying actual expenses such as fuel, insurance, repairs, and depreciation. Accurate mileage and usage records are important, particularly when a vehicle is used for both business and personal purposes.
Implementation resources
Slides, templates, and supporting videos.