I have just purchased a used car that will be primarily for personal
use, but I will use it in my business for times when the truck is not
necessary. I paid for the car with personal funds, it will be on a
personal ins. policy and expenses like registering, gas, repairs, etc.
will be paid with personal funds. I know that on my taxes I can claim
this business use, most likely via standard mileage rate. Are there
any other accounting issues I should consider in regards to this?
- posted 11 years ago