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Do you use your car for business?
If so, here's what you need to know for taxes…
You CAN expense your Gas, Maintenance, Repairs, Insurance, Tires, Lease, etc. BUT Remember to pay for these out of your business account or your business CC so you can be 100% sure it is deducted come tax time! The alternative is to use the mileage rate for your business vehicle (58 cents/mile).
Keep this in mind, so you can determine what works best for you! If you own a business and are not taking advantage of this, or several other applicable deductions, or your books need some organization, contact my team for a consultation at no cost.
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