I haven't read the tax laws on vehicle usage for years but in pricipal: If you use your own vehicle for company business and you're reimbursed by your employer it's a wash and no income is incurred and no deduction allowed. (Incidentally, the employer takes the deduction as a part of doing business.) If the vehicle is used in your own business part time and personal business part time you can deduct the portion used for business purpose but you must maintain a log of miles driven and the purpose. You then have the choice to take the standard mileage deduction or maintain expense records and prorate the amount used for business miles. The most important thing is record, record and record.
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Today's Featured Article - Search For Spares - by Anthony West (UK). Following on from the aquisition of the old Fordson F, I was very much in need of spares. As a novice though I didn't appreciate the fact that there were so many Fordson tractors made, that all the other makes seem rare by comparison. As far as I was aware a fordson was a fordson and it was only through trial an
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