Can I Deduct Rental Car Costs on My Income Tax?

Filed under: Salt Lake City Rentals - 29 Mar 2010  | Spread the word !

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You should consult with your personal income tax advisor to determine whether you can deduct car rental costs on your income tax. If you rent a car strictly for pleasure, such as for use during a three week vacation in and around Salt Lake City, then your rental car expenses are not tax deductible. However, if you combine your vacation with a legitimate business purpose such as a professional conference or a series of meetings with potential clients, then you can deduct your car rental expenses as a cost of running a business. If you do run your own business and rent a car for purposes other than commuting to and from your home, then its use in your business is a deductible expense.

If you do not run your own business, there are two situations in which the cost of a rental car might be deductible: moving expenses and medical expenses. However, it is not clear whether you are limited to the standard 24 cents per mile (as of the 2009 tax year) deduction, or whether you can deduct rental car fees, instead. As with most complex tax issues, you should consult with your tax advisor before you decide how to handle car rental expenses on your income tax return.

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Rental Car Companies That Have Cargo Vans

Filed under: Salt Lake City Rentals - 18 Mar 2010  | Spread the word !

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Many people are finding work by contracting out on their own to be the only way to make money in the current economy. In recent history, people have been working at a normal nine to five job as well as doing side jobs on their time off. This means that more and more people are in need of a vehicle capable of carrying supplies and large items to and from their work sites in order to meet the needs of their customers. This helps them to please their customers in a timely manner and allows them the freedom of not having to share profits with others.

Unfortunately, as with all machines, cargo vans break down. This can end up costing these people hundreds and maybe even thousands of dollars in lost work, not to mention the costs of actually getting their vehicle back on the road. Thankfully, there are a few car rental agencies that have a solution so that nobody has to go without making money while their car is in the shop.

The downside to car rental agencies offering up vehicles like cargo vans to rent is that the use that these vehicles generally see is rough work. This raises the costs of maintenance on these vehicles and therefore the price of the rental. Because of this, many of the big names in car rentals don’t offer them to their customers and you will likely have a hard time tracking them down. Fortunately, there are several smaller companies that are very useful for these types of rentals and many with reasonable rates that allow you to still make a profit while your vehicle is in for repairs. Remember to shop around, at least a little bit. Many companies will gladly compete with each other in order to gain your business and your trust.

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