Also, it's my understanding that we can either deduct mileage for business expense (at the rate established by the IRS for that year) OR actual costs of owning/leasing and operating a vehicle for business purposes, but not both. If doing the latter, it still means tracking mileage so it can be determined what percentage of the use of a vehicle is for business vs personal - unless you have a vehicle used exclusively for business. (Similar concept applies to use of in-home office space, of course.) |