Vehicle Expense/Depreciation Question for Tom Copeland
Hi Tom, follow up question form my previous question.
I'm claiming the actual expense method for a 100% business use vehicle...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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Vehicle
Originally Posted by frugalmama4: |
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