Tax Depreciation Rules for Business Automobiles
If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, and special limitations that apply to vehicles
If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, and special limitations that apply to vehicles
If you are claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try to create records
You have probably seen or heard ads urging you to donate your car to charity. “Make a difference and receive tax savings,” one organization states. However, be aware that donating
One of the most popular fringe benefits for employees at many organizations is not an insurance plan or a health club membership; it is shiny chrome and steel — a
It is not just businesses that can deduct vehicle-related expenses. Individuals also can deduct them in certain circumstances. Unfortunately, the Tax Cuts and Jobs Act (TCJA) might reduce your deduction