what is the maximum deduction allowable in 2018 for repairs and maintenance of a vehicle used...
what is the maximum deduction allowable in 2018 for repairs and maintenance of a vehicle used 75% of the time by a Schedule C Business that uses the standard mileage rate to calculate its automobile expense
Homework Answers
Ans: $0
Explanation:
1) If a business uses standard milage rate it can not deduct repair and maintenance as a separate item.
2) Because standard milage rate is something that is decided by IRS every year for deduction of car expense for business purpose.
3) Portion of the standard rate already accounts for vehicle repair.
Therefore,
Business that uses the standard mileage rate to calculate its automobile expense, can deduct $0 for repairs and maintenance of a vehicle.
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what is the maximum deduction allowable in 2018 for
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