Edgar1
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Although this IS the correct answer, (in most cases) it didn't apply in my case, because I can actually claim the mileage deduction for all 5 cars.See the comme...
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If so, that's a HUGE bummer!It's a difference of $28,000 in deductions.This means expanding my business to the 5th car costs more money than it's worth.Actual e...
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TaxGuyBill and SweetieJean, You just made my day!This totally applies to me!This saves me around $10,000 in spendable cash this year!
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On the same given day, no.(We don't have enough employees for 5 cars so that's not possible.)But the 5th car has been a spare, so it cycles in when other cars a...
Activity Feed for Edgar1
- Posted Although this IS the correct answer, (in most cases) it d... on Deductions & credits. June 4, 2019 7:17 PM
- Posted If so, that's a HUGE bummer! It's a difference of $28,00... on Deductions & credits. June 4, 2019 7:17 PM
- Posted TaxGuyBill and SweetieJean, You just made my day! This t... on Deductions & credits. June 4, 2019 7:17 PM
- Posted On the same given day, no. (We don't have enough employe... on Deductions & credits. June 4, 2019 7:16 PM
- Posted My business has a 5th car this year. The total mileage deduction for 4 of them is far better than actual expenses for all 5. Do I HAVE to claim the 5th car for business? on Deductions & credits. June 4, 2019 7:16 PM