Search Help


Enter one of more keywords to search. Use quotes for “exact phrase.” Note that '*' and '?' wildcards are supported.

When your search results appear, you can refine your search further: Sort for only results in which all search terms appear AND/OR sort by chronological order.

Article Date:
February 2017


Word Count:
181

 

 

Q&A: Switch from Mileage Rate to Actual Expense Method


Question

 

I am considering changing from the IRS mileage rate to the actual-expense deduction method on my vehicle.

 

My wife and I are both small-business owners. I’m a realtor, and my wife is a photographer.

 

Each of us has our own vehicle—dedicated to each of us. I don’t drive hers, and she doesn’t drive mine.

 

Currently, we both use the mileage method, and we file our tax return jointly. I want to switch to the actual-expense method. Can I switch, or do I have to use the same method as my wife because we file jointly? ... Log in to view full article.

Log in to view full article
Already a subscriber?
 
Email Address

 
Password

Log In Send me my password

You'll be able to read the full article and get instant access to the last few issues of the Tax Reduction Letter

Not yet a subscriber?
 
with a money-back guarantee



 

SS