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How to Write Off Your Car or Truck for BusinessIt's tax season -- time to ponder that annual conundrum: How much of my vehicle usage can I claim as a business expense?
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Driver's Seat: Jay Soled, a professor of accounting and information systems at Rutgers University, offers tips on claiming vehicle usage as a business expense.
Photo© Natalie Brasington
Q:It's tax season--time to ponder that annual conundrum: How much of my vehicle usage can I claim as a business expense?
A:The IRS code governing vehicle use runs roughly the length of "Infinite Jest." But it doesn't have to be that complicated, says Jay Soled, a professor of accounting and information systems at Rutgers University, who has testified before Congress on tax compliance issues. "The problem is the rules are a morass," Soled says.
