Article Date:
September 2023


Word Count:
1144

 

 

Test Your Tax IQ: Deducting More Than One Business Vehicle


Situation

 

Attorney Mel Practess owns his law firm and uses his personal car, a $60,000 BMW, for business.

 

He likes the Beamer so much that he buys the same $60,000 model for his wife, Sharpe. Although Mel occasionally takes Sharpe’s car for a spin, he never uses her car for business.

 

By contrast, almost 90 percent of Mel’s mileage on his own BMW is for business. Of course, he claims deductions for these miles.

 

Mel has been reading articles from the Bradford Tax Institute. Now, Mel thinks that to maximize his deductions, maybe he should use both cars for business.

 

Question

 

Can Mel find additional tax deductions by driving both his and Sharpe’s car for business?

 

A.

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