Tag Archives: Business Expense

What does it mean to have a “car allowance” as a perk working at a car dealership?

Question by Jay: What does it mean to have a “car allowance” as a perk working at a car dealership? I have worked at a car dealership before but this was never a perk. I applied for a sales consultant position and one of the perks was a car allowance. This isn’t the same as … Continue reading

Can I deduct a new car purchase for my business?

My wife and I purchased a new car in 2006. The car is used for both personal use, and for use in my business. Can I deduct anything on my taxes in regards to the purchase of this car? Would I be listing the car as a business asset? Yes, you can. However, the IRS … Continue reading