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Reload this Page standard or actual? For hire or not?

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Old 01-27-2002, 12:34 AM
drumbone
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standard or actual? For hire or not?

I am an independant contractor for a messenger company in San Antonio. I own my vehicle , a 96 compact truck , and drive 360 miles a day delivering postage and bank work. I would like to know if my truck is considered a " vehicle for hire" or can I take standard mileage deductions since I own the vehicle? I live in Texas and don't own another vehicle. Any knowledge would be much appreciated.
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Old 01-28-2002, 10:41 PM
drumbone
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Old 04-15-2004, 07:08 PM
agent86fl
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Take the standard mileage rate.

But don't forget to recapture the depreciation when you take it out of service: [url]http://www.irs.gov/publications/p463/ch04.html#d0e3031.[/url]

Read publication 463.

Cheers!
  #4  
Old 04-15-2004, 11:21 PM
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Standard mileage.

It isn't for hire if YOU are using it, and YOU own it.

You don't have depreciation to recapture if you are using standard mileage.

Snipes
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