How many of you have been driving around town and we see a SUV or even a cabin cruiser on the lake with the entire body wrapped in advertising promoting a real estate agent. Many times you could say the vehicle is a walking billboard. So I guess that must be his business vehicle, right? Wrong! That walking billboard does nothing to prove it is being used in business. The cost of the wrap and installation is considered advertising or even business promotion. But in no way does this go to prove the business use of the vehicle.
Proof of business use is all about the mileage log. I know, I know – I just keep hammering home the need for a log. But just like my Mom use to say, eat your vegetables, they are good for you. So, keeping that mileage log may not taste so good now but if you ever get audited you will be very happy you ate your vegetables!!
Bill Zumwalt
Helping REALTORS with Tax Solutions and Solving Tax Problems for REALTORS
REALTOR Tax Preparation, REALTOR Tax Accountant, Tax Preparation Tulsa, OK
Accountant Tulsa, OK, CPA Tulsa, OK, Tax Prep Tulsa, OK, Tax Savings Tulsa, OK, Tax Accountant Tulsa, OK
The Tax Coach for REALTORS
William T Zumwalt CPA,CTC, PLLC
5416 South Yale Ave
Suite 120
Tulsa, OK 74135
918-583-1040
855-993-3339
Bill@TeamZumwalt.com
www.TeamZumwalt.com
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