Several Credits And Deductions Available To Small Business
Claiming Vehicle Deductions
You can claim a Best CPA Firm portion of your personal vehicle expenses if you use the vehicle for business purposes. There are two methods available to claim expenses relating to a personal vehicle used for business: actual expenses incurred (prorated for the business portion) or the IRS mileage rate. You cannot claim both. If you do, whether on purpose or by accident, this will likely result in an audit.
