|
If you own the vehicle personally you would keep records of all expenses and the miles you drive. Your work miles - less comute and personal miles - would be deductable as a business expense as long as you itemize. It is simpler to do this if you lease as you just write of a percentage of the lease payment. If you own the vehicle, you'd establish a depreciation schedule.
If the company own the vehicle - in other words, if it is registered in the company's name - you'd follow most of the same above but could write off or depreciate the entire amounf. Unless it is used for personal use at times.
Make sense?
__________________
If you're wringing your hands you can't roll up your shirt sleeves.
Stangers have the best candy.
|