Question
HELP!! A student who has just decided to start driving for LYFT to make money to pay her tuition. To help her out, her grandmother
HELP!! A student who has just decided to start driving for LYFT to make money to pay her tuition. To help her out, her grandmother gave Maxine her old car to use, which has a value of $10,500. She had to get some work done on the car before it was ready to use for a cost of $1,000. She estimates that she will use it for her LYFT business about 90% of the time and for personal use 10% of the time. Maxine estimates that she will make $10,000 from driving this year and will incur costs (in addition to the $l,000 in repairs that she already incurred) for gas, oil changes, new tires, as well 'wear and tear' on the car. Using tax law, determine how these items will affect her taxes.
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