What Vehicle Expenses Can Self-Employed Individuals Deduct?

Self-employed individuals have a lot of options when it comes to deducting expenses for their vehicle to offset income from the business.  In this video we are going to review:

1) What vehicle expenses can be deducted: Mileage, insurance, payments, registration, etc.

2) Business Use Percentage

3) Buying vs Leasing a Car Deduction Options

4) Mileage Deduction Calculation

5) How Depreciation and Bonus Depreciation Works

6) Depreciation recapture tax trap

7) Can you buy a Ferreri through the business and deduct it? (luxury cars)

8) Tax impact if you get into an accident and total the vehicle