up until now i used the actual car expense deduction. i changed cars this year and would like to switch to the standard mileage rate. Is this possible? the car is old.
There are rules set by the IRS in order to take both the standard mileage rate and/or the actual expenses method. Take a look at our guide to see what the rules are for both:https://fitsmallbusiness.com/standard-mileage-rate-deduction/.
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