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Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993 Exercise 60
Jose purchased a vehicle for business and personal use. In 2010 he used the vehicle 18,000 miles (80%) for business and calculated his vehicle expenses using the standard mileage rate. He paid $1,400 in interest and $150 in property taxes on the car. Calculate the total business deduction related to the car:
Explanation
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Income tax:
Every earner pays a tax on ...
Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
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