If I advertise my business on my car what tax deductions can I take?
I was told that I could deduct all of my mileage-even personal mileage- if my car was used to advertise my business. Is this true? I'm not looking to ...
I was told that I could deduct all of my mileage-even personal mileage- if my car was used to advertise my business. Is this true?
I’m not looking to make money another way. I just want to know whether advertising MY business on MY car makes my personal mileage tax deductible.
The only tax benefit of the sign verses no sign is the cost of the sign. Your deductible mileage will be based on the same business use rules regardless if you have a sign.
Dear Jessica: The cost of the sign is deductible. Business mileage is deductible if it has a business purpose. Driving to the store with you sign on the car is not deductible.
This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more. Errol Quinn Enrolled Agent Master Tax Advisor
Your personal mileage is NOT deductible. The sign does not change this, no matter what the salesman or sales literature implied.
You were told wrong. The only deduction is for the cost of the sign.