What I am wondering is I am self employed and I write off mileage on my trucks instead of expenses. If I buy a new truck can I write off purchase price and still take mileage? Does truck have to be in business name? My buddy told me he bought a new truck and his tax guy said he couldnt write it off since he takes mileage...just wondering if that is correct. His truck was bought in his name instead of his business name.....does that makes a difference?
Thanks
Thanks