You can deduct interest on an auto loan, registration and property tax fees, and parking and tolls in addition to the standard mileage rate deduction, as long as you can prove that they are business expenses. Here’s a list of auto-related expenses you might incur.
*Also deductible if you choose the standard mileage method.
For more information regarding Actual vehicle expenses versus standard mileage method, please click this TurboTax FAQ: https://turbotax.intuit.com/tax-tools/tax-tips/Small-Business-Taxes/Business-Use-of-Vehicles/INF1207...
In Turbo Tax Home & Business, select the Business tab, click the Business Income and Expenses link, choose "Explore on my own", at the top of the page click on Profit or Loss from Business. Clicking "Edit" on your business gives you a Topic list. You would entered it under "Business Expenses" / Business Vehicle Expense.
You can deduct interest on an auto loan, registration and property tax fees, and parking and tolls in addition to the standard mileage rate deduction, as long as you can prove that they are business expenses. Here’s a list of auto-related expenses you might incur.
*Also deductible if you choose the standard mileage method.
For more information regarding Actual vehicle expenses versus standard mileage method, please click this TurboTax FAQ: https://turbotax.intuit.com/tax-tools/tax-tips/Small-Business-Taxes/Business-Use-of-Vehicles/INF1207...
In Turbo Tax Home & Business, select the Business tab, click the Business Income and Expenses link, choose "Explore on my own", at the top of the page click on Profit or Loss from Business. Clicking "Edit" on your business gives you a Topic list. You would entered it under "Business Expenses" / Business Vehicle Expense.