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For our self employed business I usually take the standard deduction but we refinanced the business vehicle for major repairs. Should I do standard or actual expenses?
Our mileage was much higher this year than last, and we also had to pull a HUGE loan to do major repairs on our truck. Will it be smarter for me to take the standard deduction or can I do actual expense and add our repairs/ loan into that expenses category?
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‎January 26, 2023
5:55 PM