Can you take mileage and repairs on a work vehicle?
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Debra Thompson
The taxpayer may use business standard mileage rate in computing the deductible costs for business purposes. This rate for 2016 is $0.54 per mile for travel. If this method is used then the depreciation, actual fuel, repairs and insurance cannot be used as a deduction. One other consideration is when starting to use either method, once chosen it cannot be changed to the other one and go back and forth, which ever is better for the year.
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382 weeks ago