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Two Ways to Calculate Vehicle Expenses

Apr 17, 2024

It’s Valentine’s Day.

We all get a little dressed up and hop into the car for a dinner out. It’s our first time celebrating as a family of three.

We pull into the restaurant parking lot with our eyes set on a spot.

Then all of a sudden…

The entire car viciously drops and pops back up again. Our heads bounced all over. The loudest bang happened. And Adalynn, who was sound asleep prior, breaks out into a loud cry.

Joel and I looked at each other, “What the heck just happened?”

Our car tire had dropped into a man hole because the cover flipped off of it.

What? Can that even happen? Those were the exact thoughts I had.

And to our surprise, I guess it can!

At first, we thought we got lucky and somehow had no damage, but looking closer, our two rear tires were angled outward. The way some people pay money to make their cars “look cool.” Next time, just drive into a man hole and you can get it for free. (Just kidding!)

The rest of our evening was spent with Adalynn and I eating dinner in the restaurant while Joel talked with the manager, police, our insurance, and a tow truck. Plus, my dad had to come and pick us up, but in shifts. Joel and Adalynn went home first because I had to stay until the tow truck came, since AAA was under my name. Then, after an hour of waiting, we had to follow the tow truck to the garage to hand in the keys (I didn’t realize a tow truck company is not allowed to do that) before heading home.

What a romantic night, right?

In that one night, we used almost every “extra” thing you pay when you have a vehicle. Insurance, towing, maintenance, AAA, gas, etc. Most of the things you pay for and hope you don’t ever to need. But when you do, you are so thankful you have them!

In terms of taxes, though, figuring out business vehicle expenses is not as cut and dry as totaling up these things you pay for and sending the number off to your accountant. There are actually two ways to calculate vehicle expenses.

This week’s YouTube episode is diving in to each option and highlighting the pros and cons of it to make sure you are getting the most out of your tax write-offs for vehicles. Head to the link below to check it out.

XOXO ~ Heather Marie

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Photographer, go-getter, and ice cream lover
Based in Lancaster, Pennsylvania

@heather.marie.leicy

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