Business owners tend to mix their business expenses with their personal expenses. Explain how business owners can take advantage of leasing a vehicle used for both business and pleasure for tax purposes. Examine the rules for claiming deductions for business vehicles and recommend one method of cost recovery that would result in the largest tax deduction for your client. Support your recommendation.

Answer rating: 100% (QA)

Cost Recovery means amount of deduction of certain portion of cost of an assets due to use in business and profession over the useful life of assets T... View the full answer