I purchased a vehicle that is used 100% for business. I am taking annual asset depreciation and also taking mileage deduction. Can I also write off monthly car payment?

bradleycharleshunt · ‎March 24, 2025

DawnC · ‎March 24, 2025

You can't take depreciation and deduct the standard mileage rate too. You can take actual expenses and depreciation OR you can take the standard mileage rate which includes a depreciation component.

You can deduct the interest portion of your car payment - whether you use the actual or standard mileage deduction.

Business Vehicle Deductions

Can I Deduct Mileage?

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I purchased a vehicle that is used 100% for business. I am taking annual asset depreciation and also taking mileage deduction. Can I also write off monthly car payment?

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I purchased a vehicle that is used 100% for business. I am taking annual asset depreciation and also taking mileage deduction. Can I also write off monthly car payment?

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