BUSINESS VEHICLE STANDARD MILEAGE VERSES ACTUAL VEHICLE EXPENSES:
- MUST BE CAREFUL WHEN SELECTING WHICH METHOD IN THE FIRST YEAR.
- IF YOU SELECT ACTUAL IN THE FIRST YEAR OF BUSINESS, UNABLE TO SWITCH TO STANDARD
- CANNOT USE THE STANDARD METHOD IF YOU USE MORE THAN 5 VEHICLES IN YOUR BUSINESS
- WITH STANDARD MILEAGE CAN ALSO DEDUCT INTEREST ON VEHICLE, PERSONAL PROPERTY TAX AND TOLLS
