Mark travels for his business and spends a lot of time in his vehicle, which...
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Accounting
Mark travels for his business and spends a lot of time in his vehicle, which is used exclusively for business. He took a Section ?deduction for the entire
cost of his vehicle the year it was placed in service. He keeps track of his gas by saving bank statements and highlighting the entries from the gas
stations, which total $ ?for the current tax year. He also tracks his mileage and determines his mileage deduction using the standard mileage rate
for business miles driven, which is $ ?for the current tax year. After downloading an app last year, he has tracked the distance and duration of
every business trip, as well as the client's name and trip purpose. What is Mark's maximum deduction for automobile expenses for the current tax year?
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$
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$
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