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Cassandra owns her own business and drives her van 15,600 miles a year for business and 5,200 miles a year for commuting and personal use.
Cassandra owns her own business and drives her van 15,600 miles a year for business and 5,200 miles a year for commuting and personal use. She purchases a new van in 2019 and wants to claim the largest tax deduction possible for business use. Cassandra's total auto expenses for 2019 are as follows: Gas, oil, and maintenance $5,170 Insurance 700 Interest on van loan 1,100 Depreciation 3,150 License 175 Parking fees and tolls (all business) 240 Determine Cassandra's 2019 deduction for business use of the van. Note: The standard mileage rate for 2019 is 58 cents per mile. Round all amounts to the nearest dollar. deduction. Via this method, she can deduct $ for her van. Her other allocable expenses Cassandra can maximize her deduction by using the amount to s
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