Learn more about deducting your standard miles versus
actual vehicle expenses here.
If you use your car only for your job or business, you may deduct all of the miles driven or
actual vehicle expenses.
Actual vehicle expenses that may be deducted, when used for business, may include but is not limited to:
Not exact matches
A. Yes,
vehicle expenses are deductible using either the standard mileage method (55 / mile in 2009) or the
actual expense method.
As long as the condition is a warrantable defect and the
vehicle is still within the Limited New Vehicle Warranty period, and all repairs are performed at an authorized Mercedes - Benz Dealership, you may be reimbursed up to $ 300 per day * for actual documented expenses — for up to three days — including the costs of meals, lodging, and substitute transpor
vehicle is still within the Limited New
Vehicle Warranty period, and all repairs are performed at an authorized Mercedes - Benz Dealership, you may be reimbursed up to $ 300 per day * for actual documented expenses — for up to three days — including the costs of meals, lodging, and substitute transpor
Vehicle Warranty period, and all repairs are performed at an authorized Mercedes - Benz Dealership, you may be reimbursed up to $ 300 per day * for
actual documented
expenses — for up to three days — including the costs of meals, lodging, and substitute transportation.
As an optional addendum to your loan and designed to help cover the difference between the
vehicle's
actual cash value and the outstanding loan balance after a total loss, having a GAP Waiver can reduce or eliminate those out - of - pocket
expenses.
A Mercedes - Benz dealer will reimburse you up to $ 300 per night ** for documented
actual lodging, food, and related travel
expenses, for a maximum of three consecutive nights from your
vehicle's initial disablement.
Vehicle insurance can also be deducted if the taxpayer elected to report
actual expenses and is not taking the standard mileage rate.
You can deduct
expenses related to business use of your
vehicle using the IRS standard mileage rate or by deducting
actual expenses.The standard mileage rate is adjusted periodically and not always upward, so check for the most recent figure.
Actual expenses, on the other hand, are just that: the real
expenses you incurred for using your
vehicle for something other than personal use.
If you travel a lot, you'll likely be taking more deductions based on your car (and there can be nuances there, like writing off
actual expenses and writing off
vehicle depreciation).
Going to meetings, worksites, or conferences can add a lot of miles to your
vehicle quickly, but as long as you're traveling for work you can write those off using either the
actual expense or the standard mileage to offset the wear and tear.