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Updated almost 7 years ago on . Most recent reply presented by

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Mark Forest
  • Real Estate Investor
  • Fenton, MI
153
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Deducting vehicle expenses

Mark Forest
  • Real Estate Investor
  • Fenton, MI
Posted

I just bought a cargo van that will be used only for my rental properties.  I know there are two ways to expense the costs; either direct expenses or mileage.  Which method do all of you use and why?

Also, I want to make my vehicle finance payments through my company.  I assume I just set it up like a mortgage, with a note payable and pay the liability through cash? 

Most Popular Reply

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Logan Allec
  • Accountant
  • Los Angeles, CA
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1,264
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Logan Allec
  • Accountant
  • Los Angeles, CA
Replied

@Mark Forest In determining which method of deducting auto expenses to use, you really have to compare the two.  Knowing what other investors are doing won't really help you at all.

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