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Financial Planning / Tax Strategies


Subject:  Re: Car deduction Date:  7/22/2005  11:33 PM
Author:  rosewine Number:  80104 of 132526

Once you choose the standard mileage rate, you can't go back to actual expenses for future years.

I thought it was the other way around. If you don't use the standard milage rate in the first year that the car is in use (ie you use actual expensees the first year) then you have to use actual expense every year in the future. Did I misread this?

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