Write Offs

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Speaking of a work vehicle, you have two ways of writing it off against your taxes.

The first way is you take the whole amount and depreciate it against your income, or stretch it out a couple years. This allows you to only deduct the price of the vehicle and the gas amount.

The Second way is the way I went, and deduct miles. As this takes a longer period to deduct, and it is not a instant write off to get your taxes down, but if you are lucky and maintain a good working vehicle you can actually make money on it in the long haul. It won't be enough to get you rich, but it is enough to make you a little bit of extra money.

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Write Offs | Ecency