Tag Archives: vehicle
Car Manufacturers Pushing for Congress to Lift Electric Vehicle Tax Cap
Recently, many of the major electric vehicle producers have asked Congress to lift the cap on how many individuals can receive the Qualified Plug-In Electric Vehicle (PEV) Tax Credit for purchasing a hybrid, or fully electric vehicle. As it now … Continue reading
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Also tagged cap, electric, tax
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2022 Vehicle Depreciation and Deductions
In general, if you use vehicles in pursuit of a trade or business, you can deduct the ordinary and necessary expenses incurred while operating the vehicle. Taxpayers may use either the standard mileage rate method or the actual cost method … Continue reading
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Also tagged 2022, business, deduction, depreciation, mileage, tax
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