Auto Taxation Rules (2 Hrs)

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Course Description

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 reviews the apportionment of personal and business use, the actual cost method, the standard mileage method, and expensing. Moreover, this presentation informs practitioners about topics such as the benefits and costs of leasing versus owning, and working condition fringe benefits.

Course Information

Price: $24
This course is included in our Mega CPE Subscription and our Unlimited Tax Bundle.

Course No. M030
Format: Online pdf (70 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: April 2023


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:

  1. Recognize tax vehicle depreciation (§168) and expensing (§179) methods including their requirements and limitations under MACRS and recognize basis, business use, and deduction computations.
  2. 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 so clients may recognize leasing costs and know common leasing terms.
  3. 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

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2 Ratings
What's your experience? We'd love to know!
Carla Ross
Posted 2 years ago
Auto use for business is common to everyone, but the rules around that use have become more complex!

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!

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Timothy Keenan
Posted 3 years ago

Provided me with needed CPE on a topic of value.

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