It’s sad but true…
83% of businesspeople think that use of the IRS standard mileage rates takes care of vehicle expenses for business purposes.
Wrong!
The truth is they’re costing themselves big bucks by failing to deduct a loss on the sale of their business vehicle.
Want to find out the right way to play the IRS’s mileage game?
Read my new article titled Tax Tips: Secret Cash Inside the IRS Standard Mileage Rate.
Three ways our fact-filled article can help you:
- We’ll explain why you should appreciate depreciation. Inside the 2017 IRS standard mileage deduction of 53.5 cents per mile there’s the 25 cents you can claim for depreciation. Because depreciation is separately recognized in the standard mileage rate, the vehicle has “basis” just like any other depreciable asset. How can you turn depreciation into cold cash? You’ll find out when you read the full article.
- We’ll provide a real-life example that shows you how to save big time. With a simple illustration, we’ll demonstrate how one business owner used our method to wind up with a $23,622 deduction! We’ll provide all the details when you read the full article.
- You’ll learn whether you should sell or trade in your vehicle. This is an important decision and can have a big impact on how much tax you’ll have to pay. If you want to play it smart, I urge you to read the full article.