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Author: SirTas Big gold star, 5000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121099  
Subject: mileage or actual expenses? Date: 3/20/2003 9:51 PM
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For several years now I have been using the standard mileage rate when figuring the cost of the business use of a car for Schedule C. Another possibility is to use actual expenses. But, I can't see how using the actual expenses method would be worthwhile. Maybe it's because I always put a lot of miles on the car, and the method of counting mileage works out better. But I'm not sure that there is ever a time when it's better to use actual expenses.

Just wondering...

I'm planning on buying a new car in the next several weeks or months, and perhaps then it will be favorable to use the actual expenses method. I don't know. A new car will depreciate a lot, and I suppose that itself could be a huge expense. But I tend to keep cars for about 12 years--and after the car's fully depreciated, it seems to me again that the mileage method is the way to go. But I don't think we can switch methods once we start, so I'll have to stick with one.

What's the attraction in the actual expenses method?

TIA

--SirTas
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