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Lance use his personal vehicle on his soul proprietorship he keeps no record of any kind regarding his business use of the car and doesnt
Lance use his personal vehicle on his soul proprietorship he keeps no record of any kind regarding his business use of the car and doesnt really know for certain when and where he use the automobile for business, which of the following correctly, describes how Lance but equal expenses should be reporter or hes a schedule C He can not deduct any vehicle expenses because he has no record of his expense . He could have leased a comparable vehicle for $ 4,800 for 2022. Therefore, he should deduct $4,800 as a business expense. He should estimate his total vehicle expenses for the year and deduct 50% of that amount as a business expense. He should research what other people in similar businesses deduct for vehicle expenses and claim the average amount. He should keep records of research in case he is audited
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