Is it possible to deduct the entire cost of a business automobile for a Realtor?
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Yes automobile expenses for business use can be taken as a deduction by realtors.
There are two methods of calculating the business use of your car.
The Actual Expenses method is based on the expenses you actually incur in the operation of your vehicle. It includes things like:
However, you can only claim the percentage of expenses that apply to the business use of your vehicle.
The second method you can use to compute the business use of your car is called Standard Mileage. You should still track both your personal and business miles but you will only use the business portion to calculate your deduction.
As I understand by your question, you are wondering if you can write off the purchase price of your vehicle as a realtor. For that to be possible,
Maximizing Tax Deductions for the Business Use of Your Car
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