04 Slice Your Taxes with the Proper Use of Your Auto

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When you drive between home and work, there is no tax deduction for your automobile. However, if you drive for your business, then there is a tax deduction for business use of your automobile. In fact, the deduction can be quite substantial. The two methods for computing the tax deduction for business use of your automobile are described. A discussion of leasing or buying your automobile is included. Finally, the record keeping requirements are listed to allow you to audit-proof your business.