It’s possible to get a tax deduction for car mileage if the vehicle is used for business purposes, charitable services, medical purposes and moving or relocating. If the vehicle is only used for business purposes, the complete cost of operating the vehicle can be deducted but if the vehicle is used for both personal and business purposes, only costs incurred for business use of the vehicle may be deducted.
- It’s essential that you maintain records of car mileage and the expenses incurred in order to get the tax deduction.
- Start noting the odometer reading from the date you start using your car for business purposes. Note the date, number of miles driven and the purpose for which the car was driven.
- Also note the expenses incurred for each trip, be it expenses for driving the car or maintaining it. Note the date, the amount and the type of expense incurred. Also keep the receipts of all such expenses filed properly.
- The expenses can include gasoline, oil change, parking fees, repairs, car insurance, toll fees and car registration fees.
- You have to maintain records of any reimbursements related to car expenses you receive from your employer.
- At the end of the year, calculate the business miles travelled in the year and the expenses incurred for business related purposes for the same duration. Also calculate your reimbursements received.
- Use this information when you prepare your income tax returns and be careful to keep your records for at least three years before discarding them.
- The IRS also allows small engine tax credit and this can be used to your advantage if you have a hybrid car, electric car or any other vehicle with a small engine.
We hope you’ve found this helpful. We want to see you get the most for your tax refund, so stop by Texas Auto to browse our used cars this tax season.
Distracted driving is any activity that could divert a person’s attention away from the primary task of driving. All distractions endanger driver, passenger, and bystander safety. These types of distractions include:
- Using a cell phone or smartphone
- Eating and drinking
- Talking to passengers
- Reading, including maps
- Using a navigation system
- Watching a video
- Adjusting a radio, CD player, or MP3 player
But, because text messaging requires visual, manual, and cognitive attention from the driver, it is by far the most alarming distraction.
According to a study by the Virginia Tech Transportation Institute (VTTI), sending or receiving a text takes a driver’s eyes off the road for an average of 4.6 seconds, the equivalent of driving blind at 55-mph for the length of an entire football field.
FOR YOUR SAFETY, TEXAS AUTO RECOMMENDS THAT YOU FOLLOW THESE GUIDELINES WHEN DRIVING:
- Don’t write, send or read a text message while driving, even when stopped at a red light or in traffic. These actions put you, and those around you, in danger.
- Turn off your cell phone and put it in your pocket. Wait to use the device once you are safely and legally parked.
- Don’t text while running, cycling or participating in other recreational sports.
Distraction.gov is your resource for learning more about distracted driving. Get the facts, get involved, and help us keep America’s roadways safe. Texas Auto encourages you to drive safely. If you have questions about our used car inventory or our service center contact us!
When your buying a car there are a lot of things to consider: how much do you want to pay, what car do you want, what technology features are important to you. Below are four benefits of buying a used car over a brand new one.
- Affordability! One of the best reasons to buy used is the lower cost. On average, the price gap between new and used vehicles is around $20,000.
- Wider Vehicle Selection! When looking at used cars at Texas Auto, you’ll have a much wider vehicle selection from which to choose- spanning many years, models, color choices, and trims.
- More Info and Improved Technology! The Internet has changed the way people shop for used cars. Finding what you want is easier than ever. Texas Auto has a user-friendly website and supportive staff to provide you with detailed information before you buy. Plus, with sites like Kelly Blue Book, it’s easy to stay informed about what you’re getting.
- Less Worry and More Fun! Buying used often means less stress. Many drivers find it easier to simply kick back and enjoy their new ride when it’s used.
New cars smell great, but how much is that scent really worth? From the initial price to the long-term costs, you’ll thank yourself for buying a used car that’s in good condition. Come by Texas Auto and talk to our knowledgeable and friendly sales team.