Do you have two or more cars in your household? If your circumstances are right, we might find a hefty increase in deductions for you with the two-car strategy.
If this strategy works for you, you don’t have to drive one mile farther. You don’t have to spend one additional penny. All you need are the right circumstances and a desire to increase your tax deductions (which we know you have).
If you have two or more vehicles in your household, you’ll need to gather following information
- Business miles for each vehicle
- Total miles for each vehicle
- Cost of each vehicle (you can estimate this)
- Estimated sales proceeds when you plan to sell the vehicle
That’s it. With the above numbers, we can spend a few minutes with you and a formula we have that will show us the approximate dollar benefit or detriment you would have by using two vehicles in your business.
