Tax time is here. Did you know you can deduct car-related expenses on your taxes if you use your vehicle for work-related errands? For VW and Audi owners, you might be able to deduct overhead costs like maintenance and gas. To take advantage of the write-off, you have two options: standard mileage and actual expense.
The standard mileage deduction is the simpler and more common of the two options. To determine deductions, simply multiply the total miles driven by the standard mileage rate (SMR). As of the first half of 2019, the SMR is 58 cents per mile. The rate, however, frequently changes. With standard mileage, you usually cannot deduct actual auto expenses, such as repairs. Continue Reading →