A Short Quiz!

A Short Quiz!

Amit Chandel Amit Chandel

Amit Chandel

I help business owners to achieve financial goals by minimizing taxes | Award winning Author | 2017 Tax Planner of the year

发布日期: 2023年9月18日
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Come on down!

Behind one of these four doors is important information about deducting more than one business vehicle.

Take this short test and see how much you know and what the tax law says.

Behind the right door is the answer to this important question . . .

Can "Mel" find additional tax deductions by

driving both his and "Sharpe's" car for business?

Which is the correct answer? Choose one.

A. No, because taxpayers can deduct only one business vehicle at a time.

B. No, because you can't correctly log business mileage if you use more than one vehicle for business.

C. Yes, as long as Mel drives more miles than Sharpe and the adjusted tax basis of both cars is roughly the same.

D. No, if he uses IRS mileage rates to claim his deductions.

To find the correct answer and find out how contact us at (562) 281-1040 your tax and financial strategists

Ciara MacMahon

Transforming CPA Practices with Scalable Growth Strategies | Build a High-Performing Team!

1 年

Thanks for sharing, Amit!

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