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-   -   Vehicle Deductions (https://www.daycare.com/forum/showthread.php?t=88541)

TSDaycare 02-09-2018 08:01 AM

Vehicle Deductions
 
Are taxes, tags, and title fees deductible on a new vehicle?

I usually do standard rate which for 2017 equals to be $900.
So between insurance, new tires, oil changes, and the new vehicle fees it may be more beneficial if they are deductible, as well as being able to claim depreciation if using actual expenses method?

I will be closing this summer, so changing from standard if I can will not affect me tremendously in the future.

TomCopeland 02-09-2018 01:09 PM

car expenses
 
Quote:

Originally Posted by TSDaycare (Post 664771)
Are taxes, tags, and title fees deductible on a new vehicle?

I usually do standard rate which for 2017 equals to be $900.
So between insurance, new tires, oil changes, and the new vehicle fees it may be more beneficial if they are deductible, as well as being able to claim depreciation if using actual expenses method?

I will be closing this summer, so changing from standard if I can will not affect me tremendously in the future.

If you use the actual expenses method for claiming car expenses you can deduct all of the expenses you mention.


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