Actual Cost vs Mileage
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What vehicle deduction strategy is best, actual costs or mileage?
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Use the drop downs to answer the questions below to get an idea of what strategy would be best for your situation.
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1Cost of Vehicle (what you paid for it):$15k - $25k
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2Approximate Business Miles in One Year:16k miles or more
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3Is the vehicle used at least 50% for business?Yes
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4Is the vehicle a SUV/Van/Truck that is 6,000 lbs or more?Yes
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5Is the vehicle electric?No
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Consider the following strategy for your vehicle Actual Costs*
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*Keep in mind, this is just a tool to give you a general idea. You need to consider all the facts of your situation with your tax advisor before choosing a method.
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