As a business owner, how do I write off my vehicle expense?
To maximize your auto related deductions you must keep excellent records. An app that helps you track your mileage at the start of the day and a record of each trip you make, noting those that are business related, is critical.
Caution! It is tempting to purchase a new vehicle to take advantage of the advanced depreciation rule for the first year of ownership. However, it may be more beneficial to use the standard mileage deduction. We can help you analyze your unique circumstances.