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LEARNLETS
Can I deduct auto expenses on my taxes?
If you use your car primarily for business, you can claim its depreciation as a deduction. However, there's a limit to how much you can claim each year, depending on the total value of your car. You may also qualify to make deductions for gas mileage and upkeep for your car.

Federal forms for declaring automobile deductions vary depending on the circumstances. If you're self-employed, you'll probably need to fill out IRS Form 1040, Schedule C "Profit or Loss From Business." If your business is a partnership or you're an owner of rental property, you may need to complete Form 1040 schedule E "Supplemental Income and Loss."

Consult with a tax professional, review IRS Publication 17 "Your Federal Income Tax for Individuals Tax Guide," or check the IRS website (www.IRS.gov) to determine how you can claim this deduction.


MORE LEARNLETS
Check Your Vehicle's Shocks and Struts
Clean Car Grease from Hands
Understand Octane Ratings
Clean Bird Droppings from Your Car
   More learnlets...

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 OTHER 2TORIALS AND LEARNLETS
2torials:
Learnlets:
Autos
Travel
Business
Autos
Travel

 AUTO 2TORIALS
Change a Flat Tire
Don’t despair. Get back on the road in a jiffy.
Wax a Car
Make it shine like new, and protect it from the elements.
Flush a Car Radiator
Take care of your cooling system--your auto’s health depends on it.
Prepare for Winter Driving
Put safer driving in your forecast with these helpful tips.
Shop for Car Insurance
Which policy’s right for you? Explore the options. Understand the costs.
 More 2torials...

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