Lena Rozzi, CPA •
If driving a vehicle is part of your trade or business, whether it’s a car, truck, or van, you can deduct the vehicle expenses to lower the taxable income you report on your business tax return. While the costs of operating your vehicle can seem pretty straightforward, there are several considerations you should understand to optimize your deduction depending on your particular situation.
If driving a vehicle is part of your trade or business, whether it’s a car, truck, or van, you can deduct the vehicle expenses to lower the taxable income you report on your business tax return. While the costs of operating your vehicle can seem pretty straightforward, there are several considerations you should understand to optimize your deduction depending on your particular situation.