I opened in June of 2016 and after doing my taxes I found there was SO MUCH I missed. I want to be on top of it this year! So my question right now is about vehicle use.
1) Can you only claim depreciation on a newly purchased vehicle or can you claim it on ones you've already owned. If so how do I figure out the depreciation?
2) Do I need to keep track of my odometer readings when I use my vehicle for personal reasons as well as business or can I just track business and deduct that from the total at the end of the year?
3) I use 2 different vehicles, can I claim both of them or do I need to stick to one?
1) Can you only claim depreciation on a newly purchased vehicle or can you claim it on ones you've already owned. If so how do I figure out the depreciation?
2) Do I need to keep track of my odometer readings when I use my vehicle for personal reasons as well as business or can I just track business and deduct that from the total at the end of the year?
3) I use 2 different vehicles, can I claim both of them or do I need to stick to one?
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