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Maximizing Tax Deductions for the Business Use of Your Car

Source: thestreet.com - Mar 3, 2020

There are two methods of calculating the business use of your car. You’ll want to calculate your vehicle expenses each way and then choose the method that yields the largest deduction for you. If you are using TurboTax Self-Employed, check out How do I enter my Lyft tax information? for step-by-step instructions.
The Actual Expenses method

The Actual Expenses method is based on the expenses you actually incur in the operation of your vehicle. It includes things like:

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Category: General Business