How to Write Off Your Car or Truck for Business

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Tuesday, February 28, 2012

Q: It's tax season--time to ponder that annual conundrum: How much of my vehicle usage can I claim as a business expense?

A: The IRS code governing vehicle use runs roughly the length of "Infinite Jest." But it doesn't have to be that complicated, says Jay Soled, a professor of accounting and information systems at Rutgers University, who has testified before Congress on tax compliance issues. "The problem is the rules are a morass," Soled says.

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