For many of us, we have a special relationship with the car that we drive. Whether you have an SUV, hybrid, convertible, or station wagon (yes, the still make station wagons!), did you know your ride can equate to tax savings?!?
In this episode, the Huddle Guys were together in Arizona and they discuss how business owners can qualify for tax deductions related to their cars. They breakdown who and what cars qualify and the two accounting methods to capture the most benefit. They also review depreciation considerations, the purpose of the Schedule A, and how mileage factors into this process. (If you don’t keep a mileage log, you will probably start after hearing this episode.)
As always, the insights shared on this podcast spot on. Why rely on social media for tax tips when you have the Huddle Guys? As always, you can contact the Huddle Guys for additional support and services.
