Auto & Truck Expenses

Can Corporations use the standard mileage rate method in calculating auto depreciation?

Answer:

No. The use of the standard mileage method is limited to a self-employed individual or an employee who operates an automobile for business purposes. Corporations would not qualify. Partners in a partnership would qualify because they are considered self-employed.
CPAdirectory
Answer Provided by: CPAdirectory

Share This Answer

Looking For More?

View all Auto & Truck Expenses Questions

View More Questions