Limitations
Private car expenses are limited as a deduction. The value of using an attached vehicle is credited as income to the employee.
Recognized for deduction
- Fuel (proportional share for business use)
- Insurance and test
- Repairs and maintenance
- depreciation (limited)
- Leasing (limited)
Important Note: The information on this website is for general informational purposes only and does not constitute professional tax advice. Consult a qualified tax advisor before making financial decisions.