Question
Mario owns his own business and drives his car 15,000 miles a year for business and 7,500 miles a year for communiting and personal use.
Mario owns his own business and drives his car 15,000 miles a year for business and 7,500 miles a year for communiting and personal use. He wants to claim the largest tax deduction possible for business use of his car. His total auto expense for 2017 are as follows: ?Gas oil, and maintenance...$8,900 Insurace.................................800 Interest on car loan...............480 ?Depreciation.........................3,160 License.................................180 Parking fee...........................290
?What is Mario's 2017 deduction using the standard mileage rate method? ?Please help me. Thank you!
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