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NO. Go to the IRS gov website and use the search box for Car and Truck Expense Deduction Reminders
The standard mileage rate is used in place of actual expenses. Taxpayers who choose the standard mileage rate may not deduct actual expenses, such as depreciation, lease payments, maintenance and repairs, gasoline (including gasoline taxes), oil, insurance or vehicle registration fees. Business-related parking fees and tolls may be deducted in addition to the standard mileage rate. Fees for parking at a taxpayer's main place of business or tolls related to commuting to and from that main place of business are personal expenses which are not deductible.
The standard mileage rate cannot be used if the taxpayer:
What else can I help you with?
Can you deduct a refrigerator on taxes?
If you use it for your business or if you are a landlord and put it into one of your rental apartments. You may have to depreciate it.
Can I deduct the price of my property rental from my taxes?
If you are the one renting the property you can not deduct this from your taxes. If you are the landlord you can receive a deduction on your taxes for owning the property.
Can a corporation deduct its matching fica taxes?
Yes, a corporation can deduct its matching FICA taxes as a business expense on its tax return. The FICA taxes, which include Social Security and Medicare taxes, are considered payroll taxes, and the employer's portion is deductible. This deduction helps reduce the corporation's taxable income, ultimately lowering its overall tax liability.
If you give a scholarship to a student can you deduct from 2008 taxes what they should have paid?
Unless your a business or a charity, your gift is not tax deductible.
Can you deduct payroll taxes?
A individual taxpayer cannot deduct payroll taxes on the individual taxpayers income tax return.
Can I deduct software as a business expense on my taxes?
Yes, you can generally deduct the cost of software as a business expense on your taxes, as long as it is used for your business and not for personal use.
Can I deduct gas expenses on my taxes?
Yes, you may be able to deduct gas expenses on your taxes if you use your vehicle for business purposes.
Can self-employed individuals deduct health insurance expenses on their taxes?
Yes, self-employed individuals can deduct health insurance expenses on their taxes as a business expense.
Do you pay taxes on insurance proceeds for a totaled business vehicle?
No, (or a personal one)...but you can't also deduct the casualty loss - up to the amount of the payment...so if they paid you "in full"....thats it.
Can you write off employee wages on your taxes?
Yes, you can generally deduct employee wages as a business expense on your taxes.
Can I deduct my rent on my taxes?
In most cases, you cannot deduct rent on your taxes. However, there are some exceptions for business-related expenses or if you operate a business from your rented property. It's best to consult with a tax professional for specific advice.
Tell me the truth about interest payment deductions on filing taxes?
If you itemize, you can deduct mortgage interest and investment interest.
Can you deduct legal expenses from your taxes?
Yes, you can deduct certain legal expenses from your taxes, such as those related to business activities or the production of income. However, personal legal expenses are generally not deductible.
Can you deduct travel expenses on your taxes?
Yes, you can deduct certain travel expenses on your taxes if they are related to business purposes. This includes expenses such as transportation, lodging, and meals while away from home for work.
Use the word deduct in a sentence?
When calculating your taxes, remember to list the property tax payment as a deduction, so you pay less tax.
Can car loan interest be claimed when filing personal taxes?
No, car loan interest cannot be claimed when filing personal income taxes. One can, however, deduct some costs of upkeep (or mileage) if the individual can demonstrate that the car was used for business and that they were not reimbursed for such usage.
How can I deduct rent as a business expense on my taxes?
To deduct rent as a business expense on your taxes, you need to ensure that the rent is for a property used for business purposes. Keep records of your rental payments and include the amount on your tax return as a business expense. Be sure to consult with a tax professional for specific guidance on deducting rent for your business.
