When using a vehicle for business purposes, there are a lot of things to consider. These include taxes, mileage deductions, depreciation expenses and whether to use a personal or business car.
Just like any aspect of your business and personal life, it is important to keep vehicle and other expenses separate. So before you start using a car for your business, address these five issues first.
1. The Driver
The driver is one of the most important things to consider when using a vehicle for business purposes. Will the owners, staff members or both drive the vehicle for business? Business owners obviously have more control over their driving behavior than that of staff members.…Continue reading