For the last 30 years or so I have been deducting Auto expenses using the actual method based on the business mileage proration and depreciating the vehicle if it is owned by the individual/corporation. Last week, I picked up a new client who said that her previous tax preparer used the mileage rate for the last 10 years.
I keep wondering if I was using the incorrect method all along. She insists that I use the mileage rate deduction for the S Corporation.
I cannot find any information to confirm this.
Can anyone help or suggest where I should look? The TaxBook does not provide any info.
Thanks
Brian
I keep wondering if I was using the incorrect method all along. She insists that I use the mileage rate deduction for the S Corporation.
I cannot find any information to confirm this.
Can anyone help or suggest where I should look? The TaxBook does not provide any info.
Thanks
Brian
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