I have been in business for 15 years and have always traded my old business car for a new business car. During this 15-year period I have owned five cars, and I am now going to sell this fifth car to a third party. Is this change in my pattern going to produce a tax deduction? (S.R., Newport Beach, Calif.)
Yes, a big deduction!
You get this big deduction because, at the time of sale, you are really ... Log in to view full article.