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This question is regarding using two different cars for a
This question is regarding using two different cars for a Schedule C. The first 4 months I used an older car and standard mileage rate in the past. Then purchased an SUV which qualifies for Sec 179 an… read more
Tax.appeal.168
Tax.appeal.168
Principal
8,632 satisfied customers
Lev, I am writing about a client of mine that he has a food
Good afternoon Lev, I am writing about a client of mine that he has a food wholesale business which he uses his autos for delivery. he recently added another business for himself and he works as a cha… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,976 satisfied customers
Re: Own Sch C plumbing business. Had two old trucks 2017. In
Re: Own Sch C plumbing business. Had two old trucks 2017. In prior year tax returns I simply deducted my miles that's all. I traded-in one of my old trucks and bought a slightly used 2017 Truck for a … read more
James Daloisio
James Daloisio
Attorney
Doctoral Degree
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How to prepare form 8824 for vehicle purchase with a trade
how to prepare form 8824 for vehicle purchase with a trade in that is 35%business use on old truck and new truck … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
4,172 satisfied customers
One of my clients purchased a new car in 2017, which he uses
One of my clients purchased a new car in 2017, which he uses 80% for business/20% personal. He paid a down payment and financed the remainder. What is the best way to record the purchase and and month… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,926 satisfied customers
This is a relatively easy question... I have a vehicle (A)
This is a relatively easy question... I have a vehicle (A) that I use for my business, and deduct mileage per the standard deduction. It has been used from the day I purchased it 20 yrs ago.If I purch… read more
James Daloisio
James Daloisio
Attorney
Doctoral Degree
2,286 satisfied customers
Regarding the trade in of a vehicle that was partially used
Regarding the trade in of a vehicle that was partially used for business on the purchase of another vehicle that will also be used for business. … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,976 satisfied customers
I am trying to fill out my 4797 form. I bought a vehicle in
I am trying to fill out my 4797 form. I bought a vehicle in April 6, 2010 for $14,400 and sold it last year in May 29, 2015 for $2800. I used it partially for business and partially for personal use. … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,976 satisfied customers
I am a sole proprieter of a small business in it's first
I am a sole proprieter of a small business in it's first year. I purchased a commercial use vehicle using money that a family member provided ($15,000) and used about $5,000 of savings to make repairs… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Vehicle Reimbursement (SMR) and disposal question.
I purchased a van in 2002. I started a business in 2009. I started tracking and deducting mileage using SMR in 2012. I have tracked mileage for 2013, but I was in a car accident in December and my car… read more
Tax.appeal.168
Tax.appeal.168
Principal
8,632 satisfied customers
Hello I could use some help here. In 2012 I bought a used
Hello I could use some help here. In 2012 I bought a used F150 for my new business. At the end of the year I used section 179 to expense this truck ($5,500 purchase price). In February of 2013 I bough… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Do I have to complete IRS Form 4562 if I am claiming standard
Do I have to complete IRS Form 4562 if I am claiming standard mileage rates for my personal vehicle on Schedule C?… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
Lev, I am an independent driving instructor, non 1099. I pay
Lev, I am an independent driving instructor, non 1099. I pay all expenses for the car I own and use for this job (and use it in another side business I have and deduct mileage). For the year up until … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,976 satisfied customers
I bought a vehicle for my business and placed it in service
I bought a vehicle for my business and placed it in service Jan. 2011. Can I depreciate and also take the standard mileage deduction for it? If not, after the 6yrs. depreciation period, can I start ta… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,976 satisfied customers
I am a sole priopritor in a painting business for 3 years.
I am a sole priopritor in a painting business for 3 years. I traded in a truck 12/28/09 that I was taking the standard deduction for miles (for 3 years). This was paid off before I started the busines… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
2,290 satisfied customers
Form 4797 Regarding sale of a vehicle on which the standard
Form 4797: Regarding sale of a vehicle on which the standard mileage was taken 2007-2009. This vehicle was also used for personal use. I found that the standard mileage rate includes depreciation in t… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
Regarding Form 4797, How do I report a sale on a car used for
Regarding Form 4797, How do I report a sale on a car used for multiple use? Standard mileage deduction was taken on Sch C and Form 2106 for several years. Should it appear as two entries on Part I sin… read more
Anne
Anne
Master Tax Preparer
3,422 satisfied customers
I have an S Corp. My previous accountant under deducted on
I have an S Corp. My previous accountant under deducted on one fixed asset, my vehicle. It was noted as placed in service on 10/12/2001, on the 2006 tax return, but was never depreciated before the 20… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,976 satisfied customers
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