How to Turn Your Car into a Tax-Deductible Goldmine
This is the season of the year when we discover that we owe most of our success to Uncle Sam.
—Wall Street Journal (referring to the period from January to April)
I am often asked at my seminars, “What is the number one business expense that gets audited by the Internal Revenue Service (IRS)?” Most people think that it is entertainment or home office. The answer is your vehicle expense. The reason is that a car is a big-ticket item and is the most used and abused. My purpose in this chapter is not only to increase your automotive deductions significantly but also to lock them in with proper documentation tactics.