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#1
10-19-2005, 04:24 PM
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Can I claim it?What is the name of your state? VA I have a small business in my home. I recently purchased advertising on my vehicle. Can I claim a portion of my car payment as a tax deduction since it's being used as advertising? Thanks |
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#2
10-21-2005, 07:04 AM
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| Not the payment. It's far easier to use the mileage deduction than trying to figure out every actual expense allowed for business use only. I think it has just been raised to $.485/mile, which is pretty good. |
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#3
10-21-2005, 08:35 AM
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| If you use the car for business, with or without advertising, you can claim either actual expenses, which will include the lease payment, OR mileage, whichever you prefer. Snipes
__________________ This post does not create an agreement to represent you before the IRS, nor does it invoke confidentiality regulations. Postings are based only on the information provided and you should consult a tax professional in your area before relying on information contained in this post. |
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