Jasmine uses her personal automobile in her business of selling insurances. she bought a new car in
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Jasmine uses her personal automobile in her business of selling insurances. she bought a new car in 2021 and drove it a total of 30,000 miles, of which 3,000 miles were for commuting and other personal uses and the remainder was business use. Actual gas, oil, repairs, licensing, insurance, and depreciation totaled $16,500 for 2021. Actual parking expenses for business were $200. In 2021, the standard mileage rate is $0.56 per mile. What is the amount Jasmine can deduct for her auto expenses in 2021 if she uses the standard mileage method?
Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
Posted Date: