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Updated over 6 years ago, 04/29/2018

User Stats

946
Posts
153
Votes
Mark Forest
  • Real Estate Investor
  • Fenton, MI
153
Votes |
946
Posts

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? 

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