24 Oct The 2 Car Strategy to Increase Your Tax Deductions
Do you have two or more cars in your household?
If your circumstances are right, I might find a hefty increase in deductions for you with the two-car strategy.
If this strategy works for you, you don’t have to drive one mile farther. You don’t have to spend one additional penny. All you need are the right circumstances and a desire to increase your tax deductions (which I know you have).
If you have two or more vehicles in your household, let’s have a short phone conversation on this strategy. To ensure that we have a conclusive conversation, please have the following information for the vehicles in front of you when we talk:
- Business miles for each vehicle
- Total miles for each vehicle
- Cost of each vehicle (you can estimate this)
- Estimated sales proceeds when you plan to sell the vehicle
That’s it. With the above numbers, I can spend a few minutes with you and a formula I have that will show us the approximate dollar benefit or detriment you would have by using two vehicles in your business.