2 Cars for Business
If I have 2 cars for my business, can I take the Standard Mileage Deduction on one of them and the Actual Expenses on the other? If so, can you please provide some supporting documentation proving this? I’m having an impossible time finding anything that supports this, although I’m positive that you are able to do this.
I’m in agreement with you that you can definitely use the standard mileage rate or the actual expenses to deduct more than one vehicle used for business. Here is a link to a page on the IRS website that summarizes the standard mileage deduction. It also says that you can deduct maximum of 4 vehicles using the standard mileage rate: https://www.irs.gov/newsroom/2017-standard-mileage-rates-for-business-and-medical-and-moving-announced
Be sure to check out our mileage tracker app guide to see how much easier it is to track your miles for business using an app: https://fitsmallbusiness.com/best-mileage-tracker-app/
Thanks for reading!
Disclaimer: We spend hours researching and writing our articles and strive to provide accurate, up-to-date content. However, our research is meant to aid your own, and we are not acting as licensed professionals. We recommend that you consult with your own lawyer, accountant, or other licensed professional for relevant business decisions. Click here to see our full disclaimer.
Product or company names, logos, and trademarks referred to on this site belong to their respective owners.