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Haley, a self-employed individual, drove her automobile a total of 20,000 business miles in 2015. This represents about 75% of the auto's use. The standard
Haley, a self-employed individual, drove her automobile a total of 20,000 business miles in 2015. This represents about 75% of the auto's use. The standard business mileage rate is 57.5 cents per mile for 2015. She has receipts as follows:
Parking (business only) $500
Tolls (business only) $200
Total repairs $1,000
If Haley uses the standard mileage rate method, how much can she deduct as a business expense?
a. | $12,950 |
b. | $12,200 |
c. | $12,000 |
d. | $11,500 |
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