The Vehicle Deduction: Who Can Claim it and How

By Greg Lindberg, 1800Accountant.com Writer

Driving a vehicle is something many of us do without putting much thought into it. From sedans to trucks to SUVs, we all have to transport ourselves from one location to another for various reasons. We also have to deal with the expenses associated with driving and maintaining a vehicle that can add up quickly over time. If you spend time behind the wheel for business reasons, however, have you explored the tax deductions on vehicle costs that you may be able to claim on your tax return?

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The 2 Tax Deductions that Business Owners Often Leave on the Table

This guest post is brought to you by Outright.com, an alternative to Mint for business. Sign up today and make tax time less taxing!

Tax time is rough for everyone, but it can be particularly brutal for business owners. Everyone needs a little help from time to time, but business owners need to find every break they can to help them stay in business and grow their company.

However, these breaks aren’t just handed to you, and you have to know what they are ahead of time to take full advantage. According to an Outright study completed last year, business owners leave two major tax deductions on the table every year… and taking these deductions could save them tons of money! Continue reading