Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Path: utzoo!watmath!clyde!burl!ulysses!mhuxj!houxm!hogpc!houxb!hrs From: hrs@houxb.UUCP (H.SILBIGER) Newsgroups: net.taxes Subject: Re: Question on Car Depreciation for Salesmen Message-ID: <367@houxb.UUCP> Date: Thu, 4-Oct-84 13:04:26 EDT Article-I.D.: houxb.367 Posted: Thu Oct 4 13:04:26 1984 Date-Received: Fri, 5-Oct-84 06:01:51 EDT References: hou2f.379 Lines: 11 A salesperson can deduct all expenses of a car (gas, mainetnance, insurance, depriciation) for the proportion taht the car is used for business. Of course, the car must be essential to the sales work, i.e. a telephone salesperson cannot deduct their car. Any payments by the employer for car expenses have tobe reported, even if the employer does not report them as employees income to the IRS, which he doesnt have toif they are < .205. The car has to be depreciated in three years from the date of purchase. so if you have already had the car for longer than that, all you can use is the expenses.