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Primer on Contractor Tax Deductions for Car & Truck Expense

Since contractors invest in and use many types of vehicles, including cars and trucks, maximizing tax deductions and maintaining proper documentation is a concern for all CFMs. Navigating the rules and regulations can be daunting – mileage deductions, listed property rules, whether or not to include vehicle allowances in employee wages, and determining depreciation are just some of the issues that must be addressed.

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About the Author

Rich Shavell

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