Andrew is a sole proprietor and drove his car a total of 10,000 miles this year. 3,000 of these miles were for business purposes. He incurred the following expenses related to his car:

Gas: .......................................$1,200
Insurance: ...............................$500
Interest on his car loan: .......$800
Tolls to get to his clients: .....$100
Depreciation: .....................$2,000

Using the standard mileage method (rate $0.58 per mile) what is Andrew’s total automobile deduction this year?

Answer rating: 100% (QA)

Answer Business Mileage is 3000 Standard Rate 058 Th... View the full answer