Business -- Deducting for miles driven

[Ruger22C]

If my business purchases a vehicle, then as I understand it (of course) cannot count the miles driven and deduct at the IRS rate to pay me. It has to instead count actual expenses.

But what if my business does purchase a vehicle, and I *also* use a personal vehicle for business use? When I use the personal vehicle, which would be most of the time, can my business reimburse me at the IRS' rate even though it has a vehicle of its own (which isn't getting used most of the time)?

 

[skull]

If your business purchases a vehicle you can still use mileage its just more likely writing off actual expenses, purchase, gas, oil changes, tires etc. will get a bigger deduction.

You can also use mileage for your personal vehicle you just have to keep very detailed records of the trips mileage, purpose. Keep in mind insurance won't want you using your personal vehicle for business purposes unless you get a rider for it or whatever.

 

[Ruger22C]

You can also use mileage for your personal vehicle you just have to keep very detailed records of the trips mileage, purpose. Keep in mind insurance won't want you using your personal vehicle for business purposes unless you get a rider for it or whatever.

Thankfully, my insurance company allows that. 🙂

And thank you!