Sentences with phrase «deduct auto expenses»

You use the car extensively for business (your car insurance rates will be higher) AND only if you can deduct auto expenses IF you itemize your taxes (you are working for someone.)

Deducting auto expenses can confound small - business owners, but it doesn't have to.

Not exact matches

They do so by deducting expenses: which brings us to the topic of this article — are the auto insurance premiums that you pay every month tax deducible?

If you are self - employed, you may be able to deduct your commercial auto insurance premium under Schedule C; if you are an employee and do not receive mileage or expense reimbursement, you can use Form 2106 (Employee Business Expenses).

I proved she was falsifying her expenses by pointing out the inconsistencies in her own paperwork (i.e. claiming monthly auto expenses when she listed that she didn't have a car), talking to her family members (whose contact info was listed on her original rental application), and also reviewing her paystubs (which she had to submit with her court motion) and talking to her employer (who was surprisingly very willing to answer my questions and tell me that some other garnishments she claimed were being deducted from her paycheck actually were no longer being deducted).

We were keeping track of our business expenses, particularly our auto and home office expenses, but we were told by our tax preparer that we couldn't deduct those because they are not expenses that related to the «actual rental property.»