🚗🚘 How self employed business owners can deduct auto expenses as an income tax deduction. 👇🏽 🚛 If you use your car 100% for your business, you may deduct 100% of your auto expenses incurred during the year. 🛻 If you use your vehicle, only partially for business (the usual situation) then you base your deduction on the portion of mileage used for business. 🔑 I recommend paying for ALL vehicle expenses from your business account, so everything is ALL in one place for tracking. Then track your business mileage in an app like mileiq This will give you an accurate business use % for your deduction plus the appropriate back-up proof from the apps records. There are two methods of claiming auto expenses. 1️⃣ Using Actual expenses (Recommended): Where you would track the following expenses: fuel, oil, insurance, repairs and maintenance, registration fees, licensing, tolls & parking, tires, lease payments, finance interest only. And then apply the business use percentage. 2️⃣...