Posts Tagged ‘mileage’

If I advertise my business on my car what tax deductions can I take?

I was told that I could deduct all of my mileage-even personal mileage- if my car was used to advertise my business. Is this true?
I’m not looking to make money another way. I just want to know whether advertising MY business on MY car makes my personal mileage tax deductible.

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can you have your (own) corporation pay your truck payments & gas, then use the mileage on your personal taxs?

You own the corporation and use the truck payments and gas on the corporation for a tax deduction, then you also use the mileage on that same truck for your own personal tax deduction.

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How do I calculate tax deductions?

I am interested in learning how to calculate my own tax deductions. I have some, I know that are deductible (i.e. daycare, mileage to and from work, student loans, gas receipts). I would like to find out if there is a way that I can calculate this to see what I might be getting back from taxes. My husband is military and he and I are planning on using his mileage and gas receipts as well.

Thanks.

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