Vehicles and Taxes
Operating a car or truck can be expensive. If you're using a vehicle in your
business, it's important to get all the tax breaks that the laws allow. So,
we'll examine more closely some of the tax issues that arise in relation to
consequences of buying a vehicle will help you to understand the federal
excise taxes that you may have to pay when you purchase a vehicle.
use of a car explains when car travel is and isn't deductible. It
spotlights the differences among business usage, commuting, and personal
usage, and shows how to keep records that allocate your car expenses among
the different types of usage.
to compute your vehicle expenses helps you to decide which of two basic
methods for tracking and claiming vehicle expenses - the standard mileage
deduction method and the actual expense method - will work best for you.
employees use vehicles explains the tax treatment of reimbursements you
make to employees who use their own cars, as well as the treatment of
company cars you provide to your employees.
your business vehicle deductions will help you to determine the
appropriate tax form to use when reporting your vehicle deductions.