Vehicle Depreciation along with vehicle per mileage expense

Vehicle Depreciation along with vehicle per mileage expense

Real Estate Investor · State College , PA · Member since 2009 · 594 posts · 173 votes

If I am operating a service company which owns a truck that is being depreciated, can that same company also pay me a vehicle expense based on the miles I have driven in my personal vehicle?

Thanks.

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  • Investor · Panama City, FL · Member since 2015 · 378 posts · 183 votes
    10y

    It can but gets a little tricky, if your a 100% owner just keep track of your miles take the the standard milage rate as an expense, the net effect is the same. 

    Hope this helps, good luck

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