Posts tagged as:

vehicle

Ask the Taxgirl: Automobile Deductions

30 November 2006

Taxpayer asks: I read your advice about deductions for business expenses but I don’t use a home office or some of the other things you mentioned.  I do, however, use a car for much of my work.  Can I deduct that? Taxgirl says:  If you use your car exclusively in your business, you can deduct [...]

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Saying No to Gas Guzzlers May Put More Money in Your Pocket

24 December 2005

In addition to the obvious (gas savings), buying a fuel-efficient car can put more money back into your pocket. Congress has finally gotten its act together and is offering tax breaks for certain vehicles for 2006. Beginning in January 2006, those who purchase eligible vehicles will receive a tax credit, as opposed to a tax [...]

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When life gives you lemons…

21 December 2005

Don’t assume that you can just make lemonade. The IRS announced today (well, today is technically Dec. 20, 2005 and the PR is dated Dec. 22, 2005, so think what you will) that they will not recognize certain deductions related to the sale/auction of used vehicles. Here’s the PR in its entirety: IRS Warns of [...]

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