Calculate actual vehicle expenses for Patrick, a small business owner whose income is reported on Schedule C.
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Calculate actual vehicle expenses for Patrick, a small business owner whose income is reported on Schedule C. He drove 21,453 miles in his fully depreciated 2012 Fiat. The vehicle is used 100% for business. His expenses include $2,680 for gas, $276 for oil changes, $800 for insurance, $85 for personal property tax, $89 for tolls and parking, a $45 parking ticket, and $60 for washing and waxing.
$3,930
$3,975
$3,990
$4,035
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: