Video: What Are Itemized Tax Deductions?
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Video: What Are Itemized Tax Deductions?
Itemized tax deductions can help save you even more money during tax season if your deductions exceed the standard amount. Learn about itemizing your tax deductions with help from TurboTax in this video on annual tax filing.
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Owning your vehicle personally vs. in your LLC does NOT determine your tax deduction. Your write-off is based on business use percentage, not whose name is on the title. That said, if you want your LLC to own the vehicle for legal or operational reasons, it can be done. Make sure you understand the mechanics of how to do it correctly and be sure to track your car costs and mileage to ensure you are maximizing your car write-offs. If you want to learn strategies for saving thousands through real
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