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Updated over 15 years ago,
vehicle and mileage
For those BP members who own their own businesses I was wondering how you pay for your vehicle usage when doing business. If you fall into one of the following categories feel free to just state which one but for those that do not I would appreciate more details as to your particular case.
A) private vehicle that is expensed to the business at the prevailing IRS rate for mileage/wear and tear
B) private vehicle that is expensed to the business at a regular, monthly rate (i.e. $300 for fuel and $300 for vehicle payment)
C) company owns the vehicle and thus gas and wear and tear is paid directly by the company
D) none of the above
Thanks!