Article Date:
November 2016

Word Count:



Q&A: IRS Allows Switch from IRS Mileage Rate to Actual Expenses



The last time I checked, if you use the actual expenses for your new-car expense deductions rather than the standard mileage rates, you must use the actual expense until you sell the car, trade it, or remove it from business service.


But if you use the standard mileage rate for year 1, then you have the option to switch to actual expenses in subsequent years.


My question is: Have the rules changed?




No, the rules remain the same. Your comments above are correct. ... Log in to view full article.

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


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