tax deductions for business: Richardson TX - Auto Costs and Tax Deductions - What You Should Know - 03/24/19 09:33 AM
A lot of small business owners from the Richardson and Plano TX area that come into our office have questions on the use of their Auto for business on their tax return.  Questions include: What can I deduct? Lease or buy? What miles count? Here are some general rules you need to know to make sure you get every deduction allowed on your auto use!
 
First, you need to understand that the IRS allows you to choose between two options when it comes to your auto.
You can deduct the business miles driven at the IRS rate for that year OR … (2 comments)