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Originally Posted by Razorecko  ^ it would be a vehicle leased under a business |
I'm about to purchase a business and could use some advice on doing the auto tax deduction thing. How do you make it safe where you don't have to worry about audits. I have a friend who bought a SL500 or something (NEW!!!) for his business which was dump trucks or something like that. That seemed a bit much to me.
Do you use the standard mileage rate or actual usage or purchase the vehicle in the business name and subtract personal miles.
I'm trying to figure out the best way to go about doing it. Any help would be appreciated.