Rules for Auto & Truck Expenses on a Schedule C?

Answer When the IRS requires you to file a Schedule C, you must separately report your self-employment income and expenses on the schedule rather than directly on your tax return. When auto and truck expe... Read More »

Top Q&A For: Rules for Auto & Truck Expenses on a Schedule C

Where do I deduct bookkeeping expenses on a Schedule C?

When you hire an outside contractor for bookkeeping services, you deduct the expense as either “contract labor” on Line 11 or as “legal and professional services” on Line 17. If you pay $6... Read More »

Are Schedule C Expenses Mandatory or an Election?

If the IRS requires you to prepare a Schedule C attachment to your tax return to report your self-employment income, then you're eligible to reduce your net profit with business expenses you pay fo... Read More »

What happens if medical expenses exceed auto insurance coverage after an auto accident?

1. Most states have a requirement that a registrant of an auto maintain "personal injury protection" (PIP) coverage (altho the name may be different). This is the essence of so-called no-fault auto... Read More »

If your auto is hit the other driver's auto insurance pays all medical expenses and so does your health insurance must you reimburse your company?

Answer You do not have to reimburse your insurance company if the accident is the fault of the other driver and the claim is made on their insurance. If the accident is the fault of the other drive... Read More »