Car Depreciation vs. mileage

Hi,

I started in October of 2013 when I bought a new car ,using depreciation for the first time for my small business vehicle. Now with this year ending, I found it better to use the mileage to avoid being forced into constantly buying a new car. Is there a way to start 2015 with the mileage method and stop using the depreciation method for vehicle expenses.

Reply to
rick.chehab
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No, you can't do that. You are not allowed to switch from actual expenses ("the depreciation method") to the mileage allowance. Once you have used actual expenses for a particular car, you have to continue using that method for that car in subsequent years.

Bob Sandler

Reply to
Bob Sandler

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