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Business & farm
Hmm I don't totally follow this. According to:
https://www.irs.gov/taxtopics/tc510 :
"Actual Expenses - To use the actual expense method, you must determine what it actually costs to operate the car for the portion of the overall use of the car that's business use. Include gas, oil, repairs, tires, insurance, registration fees, licenses, and depreciation (or lease payments) attributable to the portion of the total miles driven that are business miles."
This would suggest that I can reimburse under an accountable plan actual expenses and depreciation equivalent.
I understand that depreciation is recaptured in the year the asset is sold.
What have I missed here?
‎January 22, 2020
7:07 PM