Auto Taxation Rules 2-hr CPE course
Operating costs for vehicles used in the course of a taxpayer’s business are deductible. Thus, when taxpayers use their vehicles in their businesses or employment, they can deduct that portion of the cost of operating their vehicle. This auto taxation rules mini-
Course Information
Price: $24
This course is included in our Mega CPE Subscription and our Unlimited Tax Bundle.
Course No. M030
Format: Online pdf (69 pages). Printed book available.
Instructional Delivery Method: QAS Self-Study
Prerequisites: General understanding of federal income taxation
Advance Preparation:None
Level: Overview
CPE Credit: 2 hrs.
Field of Study: Taxes: Technical
Course expiration: You have one year from date of purchase to complete the course.
Course Revision Date: February 2025
Objectives
Study Topics:
* Apportionment of personal & business use
* Deduction limitations using the actual cost method
* Expensing – §179
* Predominate business use rule
* Auto leasing
* Standard mileage method
* Auto trade-in vs. sale
* Employer-provided automobile
* Nonpersonal use vehicle
* Reporting of an employer-provided automobile
Upon completion of this course you should:
- Recognize tax vehicle depreciation (§168) and expensing (§179) methods and their limitations under MACRS recognizing basis, business use, and deduction computations.
- Specify the predominate business use rule recognizing the result of less than 50% qualified business use, cite the pros and cons of auto leasing, and determine how to estimate monthly lease payments indicating what factors affect payments.
- Identify items included under the standard mileage method listing items that may be separately deducted, determine the taxable fringe benefit value of an employer-provided automobile using the general and special valuation methods and specify several qualified nonpersonal use vehicles stating what reporting standards apply.
Ratings and Reviews
Timothy Keenan
Provided me with needed CPE on a topic of value.
I like this course because it is relevant to everyone! I would like to keep the book as a reference because it was so easy to read and understand. This course is so obviously needed I wish I had thought to write it myself! Great course!