Vehicle Costs: Mileage Rate vs Actual Costs with Depreciation
This lesson is part of the course
In this lesson
You derive the business-use share from a driving log, depreciate the car with SLN, compare the actual-cost method with the mileage-rate method and keep the larger deduction.
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Lessons in this course
- The Side-Business Ledger: Categories, Totals & Net Profit Locked
- Mixed-Use Expenses: Business-Use Share & the Personal Part Locked
- Home Office: Area-Ratio Method vs Simplified Flat Rate Locked
- Vehicle Costs: Mileage Rate vs Actual Costs with Depreciation Locked
- Equipment Depreciation: SLN and the First-Year Pro-Rata Locked
- Self-Employment Contributions: Base, Cap & the Deductible Half Locked
- Quarterly Estimated Payments: Safe Harbour Options & Due Dates Locked
- Underpayment Interest: Days Late, Shortfalls & the Year Summary Locked