Business Expense 101 – Tax Deductible Car and Truck Expenses

IRS notice of deficiency, audit reconsideration

There are several different types of tax deductible car and truck expenses that individuals and business taxpayers are eligible to deduct on their return. The record-keeping requirements are the same no matter what type of tax deductible car and truck expenses you claim.

Deductible Vehicle Expenses

There are two methods of claiming car and truck expenses. You can either claim standard mileage or actual expense. The IRS standard mileage rate differs year-to-year.

Hurricane Harvey Irma, IRS casualty loss deduction, IRS car and truck deduction, IRS coronavirus tax relief

Hurricane Harvey and Irma & IRS Casualty Loss Deduction

Casualty Loss Deduction – an Overview

Harvey Disaster Areas

In Texas : Aransas, Austin, Bastrop, Bee, Bexar, Brazoria, Burleson, Caldwell, Calhoun, Chambers, Colorado, Comal, Dallas, De Witt, Fayette, Fort Bend, Galveston, Goliad, Gonzales, Grimes, Guadalupe, Hardin, Harris, Jackson, Jasper, Jefferson, Jim Wells, Karnes, Kleberg, Lavaca, Lee, Liberty, Madison, Matagorda, Milam, Montgomery, Newton, Nueces, Orange, Polk, Refugio, Sabine, San Augustine, San Jacinto, San Patricio, Tarrant, Travis, Tyler, Victoria, Walker, Waller, Washington, and Wharton Counties.

In Louisiana : The parishes of Acadia, Allen, Assumption, Beauregard, Calcasieu, Cameron, DeSoto, Iberia, Jefferson Davis, Lafayette, Lafourche, Natchitoches, Plaquemines, Rapides, Red River, Sabine, St. Charles, St. Mary, Vermilion and Vernon.