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Submitted By: Betty
Answered: December 29, 2015 11:50 am
Answered: December 29, 2015 11:50 am
If I have a decal for my business on my truck, can I deduct all of my mileage as being for business?
No. Having a decal or a removal sign that helps to advertise your business does not entitle you to deduct all of your driving as business mileage. You’re limited to the actual miles driving for business purposes, such as seeing customers and meeting with vendors.
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Tax Glossary
Tax deferral
Shifting income to a later year, such as where you defer taxable interest to the following year by purchasing a T-bill or savings certificate maturing after the end of the current year. Investments in qualified retirement plans provide tax deferral.
