Using a personal car for business purposes

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?
Reply to
kbremner
On Sat, 21 Mar 2009 15:09:47 -0700 (PDT), snipped-for-privacy@beeline-online.net wrote:
In general, your commuting expenses to your main job location are not deductible because they are considered personal expenses. However, if your job site changes more than once in a year, you may be able to deduct via the standard mileage rate because those sites are considered temporary assignments (i.e, you are traveling away from your home area).
Reply to
Rocinante
I did not mention in my op, but I am a contractor and I work out of my house/yard, which, if I understand correctly, means that any travel to jobsites, estimates, etc. are not considered commuting miles. Am I correct?
Reply to
kbremner
On Sat, 21 Mar 2009 17:53:07 -0700 (PDT), snipped-for-privacy@beeline-online.net wrote:
Yes, they would not be considered commuting miles as long as you do not travel to the same jobsite every day for over a year. Keep a careful log of all your travel.
Reply to
Rocinante

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