Actual Auto Expenses
If you use a vehicle for business you may be eligible to deduct your auto expenses. While many opt to take the standard mileage deduction, you also may have the option to deduct your actual vehicle expenses. To use the actual expense method, keep track of what you spend during the year to operate your vehicle, including gas, tires, insurance, license, registration and repairs, to name a few, and then deduct the portion attributable to your business driving. The actual method will require more record keeping than the standard mileage deduction, but it may be worth it -- you may could come out ahead at the end of the year. Apps like Hurdlr make it easy to track your expenses as they occur. Since Hurdlr is integrated with your smartphone's camera, you can simply take pictures of your receipts, and your record will be created instantly. Refer to our diagrams below to find out if the actual vehicle expense deduction is right for you.