Vehicle Expenses
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A small business primer on expense deductions
Whether your small business is new or you’ve run it for decades, you may not fully understand which expenses are potentially tax-deductible and which aren’t.…
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Understanding how to deduct transportation costs could significantly reduce the tax burden on your small business. You and your employees likely incur various local transportation…
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You don’t have to be in business to deduct certain vehicle expenses
When you think about tax deductions for vehicle-related expenses, business driving may come to mind. However, businesses aren’t the only taxpayers that can deduct driving…
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Keep these DOs and DON’Ts in mind when deducting business meal and vehicle expenses
If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or…
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The standard business mileage rate is going up in 2023
Although the national price of gas is a bit lower than it was a year ago, the optional standard mileage rate used to calculate the…
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Vehicle expenses: Can individual taxpayers deduct them?
Individuals can deduct vehicle-related expenses in certain circumstances. Unfortunately, under current law, you may not be able to deduct as much as you could years…
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