What's Better Mileage Or Actual Use
I bought a 15 passenger van for my daycare this year and my cpa told my I can either deduct the actual expense of the car along with repairs gas and what not. Or I can do mileage. My question is if I did mileage can I still do depreciation on the car itself? I use this car only for daycare but use my personal car for all grocery trips, bank trips and what not. What would benefit me more?
|
There's a lot of record keeping when it comes to actual expenses but it should be easier for you if you only use your van for daycare. As far as using your car for grocery trips and other errands that could be considered daycare related I believe you can still use the mileage for that car instead which, in my opinion, would be easier.
Tom Copeland can probably answer your question about mileage (standard rate) expenses and depreciation. |
I have kept track for years and the standard mileage rate has won every year, by a lot.
|
my big question is can I count the actual cost of the vehicle along with the mileage or can I only do that with the actual expenses
|
Originally Posted by kelsey's kids: So for example, since I claim the standard mileage rate I can't also deduct gas that I put into my daycare van, or a tune-up, or new tires etc. |
Originally Posted by MarinaVanessa:420607: Originally Posted by kelsey's kids: So for example, since I claim the standard mileage rate I can't also deduct gas that I put into my daycare van, or a tune-up, or new tires etc. Right I understand that part just not if I claim mileage can I still depreciate the 3500 that we purchased the van for? |
Car
Originally Posted by kelsey's kids: |
All times are GMT -7. The time now is 12:32 PM. |