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Hi, my name is Mark. I am a CPA. I would be happy to help you with your question. Let me better understand this, are you renting the truck to customers?
I understand. Thank you for the information. In the first year you can select either method. In you choose the actual method you are not able to switch in future years. If you use the standard mileage rate you can switch to actual expenses in later years. Is this the first year that the truck was placed in service.
Ok, the standard mileage rate is the easiest you would just need to keep a log of the business mileage.
Sounds like you are off to a good start.
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You are very welcome. I am happy I could help.