All Things Tax

All Things Tax

Like the title says, from the filing process and tax questions to tax policy and reform, you can search and share All Things Tax here. This is the place to find answers to all your general questions that don't fall under the other categories. And just a reminder: questions about software or online filing should be posted in DIY Products.

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Pioneer
Posts: 1
Registered: ‎08-10-2017

Business Advertisement on Vehicle

I have a business logo on my vehicle. I do not own the business, but it is a startup that I am working for. Can I write off the truck for having the logo?

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Tax Pro
Posts: 5,780
Registered: ‎02-23-2016

Re: Business Advertisement on Vehicle

HI jdreyes,

 

Welcome to the H&R Block community.

 

You can't deduct anything just simply for having the company logo on your vehicle.  However, if you're using the truck for work purposes, meaning that you're driving it from one business location to another (for instance if you're making deliveries for the business or meeting with clients away from the office) then you can deduct miles at 0.53 per mile.  If you paid for the logo to be put on the truck then that specific expense is be deductible as well if you weren't reimbursed.

 

Note that driving from home to work and back does not count toward the mileage deduction.

 

You can choose to deduct actual expenses such as fuel, oil, repairs, and insurance instead of taking the mileage deduction if you drive for work, however the mileage deduction is almost always the better deal.  Also, if you deduct actual expenses for the first year that you use the vehicle in your line of work then you must deduct actual expenses every year for the life of the vehicle, but if you deduct miles for the first year then you can switch back and forth in future years.

 

As an employee your deductions for work-related items are all taken on Schedule A in the miscellaneous section.  Your allowable Schedule A deductions must total more than your standard deduction amount before Schedule A will be of any benefit to you though, so you may or may not benefit from deducting what you can with regards to the truck depending on how much you can deduct.

 

If you have any other questions I'll be glad to help.

 

Louis,

Senior Tax Advisor (Tampa, FL)