Small Business Tax Savings Podcast
Business:Entrepreneurship
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What are the pros and cons of having a business-owned vehicle versus a personally-owned vehicle? In this episode of the Small Business Tax Savings Podcast, Mike dives into the often confusing and overwhelming topic of business vehicles. From selecting, buying, and maintaining a car for business use to proving business use of a vehicle to the IRS. Mike offers up his expertise on how to make sure you’re getting the most out of your vehicle when it comes to tax deductions.
Mike covers the pros and cons of having a business-owned versus personally-owned vehicle, as well as tips for determining the business use percentage and tracking mileage.
Tune in now and listen as Mike shares his advice on how to select, buy, maintain, and write off a car for business use!
[00:24] Get The Facts On Mileage Logs And Proving Business Use
[07:26] Determining Business Use Of A Vehicle
[09:17] Understanding How To Deduct Vehicle Expenses
[15:34] Closing Segment
Key Quotes
“Whether you have a vehicle that's in your personal name or your business name and you use it for business, either way, is acceptable. You just need to make sure that you're following the correct process, whichever way you do it.” – Mike Jesowshek, CPA
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Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings Podcast
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To find out more on this topic and many others visit our website at www.TaxSavingsPodcast.com. You can also give us a call at 844-327-9272 or send your questions to us at: Ask@TaxSavingsPodcast.com
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