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Old 07-16-2009, 01:07 PM
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zz4guy zz4guy is offline
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Location: Corporate Hell, IA
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How do you deduct Truck Maintenance?

Mileage or actual costs? What are the pros and cons of each?

My first two years I've been using mileage bacause it's easier and seems to cover everything. But this year I am driving less business miles and now need new tires and front end work which will be pushing $1500. If I deduct strictly by mileage this year I won't be able to cover everything. What do you guys think. Is it time for me to switch to the actual costs deduction? How big of a PITA is that?
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Old 07-16-2009, 06:41 PM
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dwlah dwlah is offline
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keep up with both until the end of the year then you can decide
or at least thats what I do
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Old 07-16-2009, 07:16 PM
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zz4guy zz4guy is offline
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Yeah, but problem is the IRS rules say that once you deduct expenses, you cannot go back to mileage on that vehicle again.
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"I want to make government cool again."
-Barack Obama, September 11, 2008

1992 Chevy K2500 - 350ci & 4L80E
12' V-Nose enclosed trailer
52" Scag Hydro WB
36" Quick 36 with Bagger
Stihl Kombi System
Part time LCO.
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  #4  
Old 07-18-2009, 02:44 AM
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dwlah dwlah is offline
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Let me rephrase my answer
You dont have to decide until you file your taxes
Doing the switch shouldnt be a problem if you keep up with all your paperwork(reciepts)
Just remember Im a LCO not a CPA
Id talk to your tax guy
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  #5  
Old 07-18-2009, 11:50 PM
dtelawn dtelawn is offline
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As stated before, you CPA will be able to help make the best financial choice. My accountant has steered me away from the depreciation for these reasons.

Once you depreciate all of the truck it's over(except repairs, maint, ect.)

If you sell the truck later, you will have to pay back the difference from deduction to sale price.(Payback would be through deductions later)

When deducting fuel costs, I have learned that sometimes we may use much more fuel when it starts going up then less fuel when prices fall back down.

If you claim mileage, you get the gov deduction for all miles that year.
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