As the new year is just around the corner, many are looking to saving big changes until January rolls around. However, for many things, including bringing in your Acura for service, there’s no time like the present. December may be the end of the year, but for business owners, potential tax deductions make this the perfect time to schedule Acura service at Acura of Sherman Oaks.
What Acura Services and Repairs Are Tax-Deductible?
Writing off specific car-related expenses on your tax returns as a business owner means knowing exactly what services are tax-deductible. For Acura service and essentials, you can deduct the following from your tax report:
- Car repairs
- Gas and oil expenses
- Registration fees / licenses
- Tires
Don’t forget that there are other vehicle-related deductions for which you may qualify. These include:
- Car insurance
- Depreciation
- Garage rent
- Lease payments, subject to the lease inclusion amount
- Tolls / parking fees
Itemizing and Reporting Acura Service on Your Taxes
Bringing in your Acura for repairs and service is an essential part of car ownership, whether for business or personal purposes. For business owners, it’s also essential to keep track of itemizable services and repairs. You’ll report on these services via a Schedule C form, and they will go into your overall deductions. (Actual deduction amounts and upper limits may vary from year to year, depending on federal mandates and state laws.)
Mind you, we’re experts in new Acura vehicles, not taxes, so you should always discuss deductions with your accountant or tax professional. Don’t delay in scheduling service for your Acura vehicles. Call Acura of Sherman Oaks today to set up a service appointment, or visit our website to schedule an appointment online.
