A Tax Deductible Goldmine Sandy Botkin, CPA and Esq. is a former trainer of IRS attorneys. He is also the author of the only known audit proof diary in existence. The following article has been reprinted here with permission from Sandy Botkin. In my public seminars, I am constantly asked what the number one audited area by the IRS is.
Most people believe it is the home office deduction.
The number one audited area by the IRS is the automobile deduction. The reason is that it is a big-ticket item that can generate lots of deductions and is the most used and abused. It is the purpose of this article to give some great tax planning tips for your vehicle. There are two methods of deducting car expenses. One is the actual method where you deduct part of your gas, oil, repairs, depreciation, wash, wax and insurance.