Deducting car expenses?


M

Mama Bear

I have big advertising signs for my business on both sides of the car.

Does that make it where I can deduct 100% of my mileage, gas and
maintenance for the car, being I'm advertising every time I drive it?
 
Ad

Advertisements

P

Paul Thomas

Mama Bear said:
I have big advertising signs for my business on both sides of the car.

Does that make it where I can deduct 100% of my mileage, gas and
maintenance for the car, being I'm advertising every time I drive it?


No. The purpose of the travel is what determines if it's a business travel
or not. So you can have the sign on your car if you want, but the drive to
grandma's is still personal miles. You'll hear otherwise from many people
who won't be signing your returns (ie: they aren't on the hook for telling
you wrong), so don't listen to them.

Now, the cost of the signage is 100% deductible.
 
Ad

Advertisements

T

Taxxcpa

Mama said:
I have big advertising signs for my business on both sides of the car.

Does that make it where I can deduct 100% of my mileage, gas and
maintenance for the car, being I'm advertising every time I drive it?
Putting an ad on your car does not make it a deductible expense.
You can deduct the cost of the signs themselves and deduct business
travel expense for use of the car.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top