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October 27, 2021
Question

Business/Personal Vehicle that is wrapped with Biz information

  • October 27, 2021
  • 1 reply
  • 0 views

Probably too late to claim the actual expense of doing this becuase we did it about a year ago and we just started our LLC.  But since the truck is covered head to toe in graphics for the business...it really is advertising everywhere we go.  Is there any part of our driving expenses that can be deducted each year beyond just trips to the post office or store for business supplies?

    1 reply

    David_EA
    October 27, 2021

    Hello annieo012019! I'm an Enrolled Agent with TurboTax Live. There are multiple ways a vehicle can get deductions. If you're not just claiming the standard mileage, the 'Actual Vehicle Expense' may be better for you. 

    If you decide to use the actual expenses method, additional auto-related expenses are deductible, such as,

    • Gas and oil
    • Maintenance and repairs
    • Tires
    • Registration fees and taxes*
    • Licenses
    • Vehicle loan interest*
    • Insurance
    • Rental or lease payments
    • Depreciation
    • Garage rent
    • Tolls and parking fees*

    Please reference this link for more information on this topic: https://turbotax.intuit.com/tax-tips/small-business-taxes/business-use-of-vehicles/L6hi0zzzh

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