USA Work Truck deductions


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Hello,

For the last 7 years I have been writing off the mileage of my truck for my business. However, I am thinking of purchasing a new truck and I am still unsure how the deductions will benefit me in the long run. I have had many people suggest writing off the truck instead of the mileage.
Can someone please explain how the latter will benefit me? Please explain it as basic as possible.
As an example: Gross $80k and $30k in deductions(not including truck)

Thank You In Advance
 
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BIG E

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So long as you can provide documentation of the business mileage of the truck, then you have less other records to keep to prove
business expense and keeps your basis in the asset intact, whereas by depreciating the vehicle and calculating actual costs reduces
your cost basis upon disposition of the vehicle creating possible taxable gains.
 

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