Phone (828) 659-2772 . Fax (828) 659-3282

The following can be deducted:

– Parking fees and tolls

– Interest on a loan (for self-employed people only)

– Vehicle registration fees

– Personal property tax

– Lease and rental expense

– Insurance

– Fuel and gasoline

– Repairs, including oil changes, tires, and other routine maintenance

– Depreciation

 

The following can NOT be deducted:

– fines and tickets, including parking tickets

– expenses related to personal use or commuting

– for charity and medical expense deductions, you cannot claim depreciation, insurance, or repairs.