Getting mileage write off

[Mike Bereck]

If you have a home office you use for your rental company and you go driving for dollars, can you claim the standard mileage deduction?

[Vlad K.]

@Lindsey Crawford it depends on several factors, primarily how much it will cost you out-of-pocket for gas, insurance, property taxes, maintenance, etc. 

Simply put, if you have 40-50 MPG Toyota or Honda, mileage deduction would probably be your best option, but if your car is 12 MPG Range Rover, chances are you would be better off having this one as a business car.