Vehicle Expense question for Tom Copeland
Hello,
I have two vehicles one is used 100% for daycare e.g. (trips to the store, bank, deposits, training's...never ever used for my families personal use); however I don't offer transportation for my daycare clients. My question- How and/or can I write of all expenses for this auto at a %100? Thanks Tom! |
Car expenses
Originally Posted by frugalmama4: |
Originally Posted by TomCopeland: One last thing, I'm claiming the actual expense method...so would all expenses for this vehicle be deducted at a 100% (gas, insurance, repairs etc.) this is a new auto purchase in 2012. Deprecation-since the auto is used a 100% for business would I be entitled to deducted the entire purchase price ($30,000) or will it still be limited to the limitation amount ($11,160)? I'm trying to see over all for my "business and family" if its worth having a second auto with a monthly note. Thanks! |
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