Mark J. Kohler
speaker
651 appearances
4 recordings
3 series
first heard Apr 2019
last heard 10 Jul
Mark J. Kohler’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
The cost, is it mileage more effective or actual?
It's going to depend on your usage and all these little things.
I've got YouTube videos on this and other ways you can learn about it.
But even for a traditional business owner, you need to think of what's the best method for my auto deduction because you're entitled to it.
You're going to put miles on doing your business.
So track it.
First, let's talk mileage.
And this year, it's 58 cents a mile is a deduction.
The best ever.
It's been 58 cents a mile.
So if I drive 1,000 miles, I get a $580 deduction because of this 1,000 miles I drove for my business.
You get 58 cents a mile, and you want to track those miles.
Now, for some people that buy a more expensive car or maybe don't put on as much miles, but they still use the car predominantly for business, you're allowed to depreciate the car and then take your fuel repairs and maintenance.
Now, let's use an example of Hawaii.
I've got a lot of clients in Hawaii, and if I have a business owner over there,
that is not putting on a lot of miles because they're on an island.
See what I mean?
Well, we're going to want to go actual because we're just not burning as many miles.
And so I'm going to get a better write-off doing fuel repairs and maintenance and a depreciation deduction that's been far better than ever before.
But if I've got a client in the Midwest and they're burning 20,000 miles a year, maybe a realtor or a contractor or even an Uber driver, a lot of miles with a lower cost car, then they're going to get more bang for their buck with a mileage deduction.
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