Taxes and Tax Preparation

How can one use their vehicle for tax deductions?

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2013-05-29 16:17:24
2013-05-29 16:17:24

There are several different ways that vehicles can be used for tax deductions. If a vehicle is used for primarily business reasons and has several kilometers of business driving on it, those kilometers (or, in some cases, the cost of the vehicle itself) can be deducted. Sales taxes on the vehicle and the overall decrease in a vehicle's value can also be applied towards tax deductions.

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What IRS form do I use to increase my Federal monthly tax deductions?


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Turbo Tax is a well known income tax preparation program. Many people use it each year and it is supposed to be very user-friendly, or easy to use. If you have a lot of deductions though, it may be better for an accountant to do your taxes.


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