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Can I report automobile expenses incurred for my business on my personal tax return?

Can I report automobile expenses incurred for my business on my personal tax return?
 
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Category : > Business Tax
Posted On : Thu Nov 25th,2010

 
Can I report automobile expenses incurred for my business on my personal tax return?
 

 Can I report automobile expenses incurred for my business on my personal tax return?

Answer: Automobile expenses related to a business are valid expenses. Careful record keeping must be maintained contemporaneously to separate business use of the automobile and personal use of the automobile. The valid expense can be calculatedactual expenses either based on .

Example: A taxpayer uses her truck exclusively for her business and uses a car for all of her personal traveling. The taxpayer can use all of the truck expenses for the business because that vehicle was used exclusively for her work.

  


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