Phone: 866-300-4618; 586-772-6073

  • Automotive

AUTOMOTIVE
  • Posted on September 30, 2011
This section is provided to assist clients in making informed financial decisions when buying, selling or leasing vehicles. Being knowledgeable before shopping can help save those hard-earned dollars.

Buying, Selling or Leasing a Car
  • Posted on September 30, 2011
This is provided to assist clients in making informed financial decisions when buying, selling or leasing vehicles. Being knowledgeable before shopping can help save those hard-earned dollars. This page is organized in logical steps to help you prepare yourself.


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Special Rules for Car Donations
  • Posted on April 24, 2008
Congress has imposed tough rules that substantially limit the deduction for this charitable donation.
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Deducting Auto Expenses & Luxury Auto Limits
  • Posted on April 24, 2008
When you use a vehicle for business purposes, you can deduct the business portion of the operating expenses on your business. If you use the car for both business and personal purposes, you may deduct only the cost of its business use. You can generally determine the expense for the business use of your car in one of two ways, the standard mileage rate method or the actual expense method.
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Will the Interest on Your Vehicle Loan be Deductible?
  • Posted on April 24, 2008
The answer to that question depends upon whether or not the vehicle is being used for business purposes, where the expenses are being deducted, and the type of loan. If the loan is a consumer loan secured by the vehicle, then the following rules would apply.
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Looking for Business Tax Deductions? Look No Further Than Your Business Vehicle!
  • Posted on April 25, 2008
With all the recent changes in the tax laws and regulations, the options for deducting the business use of a vehicle are both numerous and generous. In fact, there are so many options that some can easily be overlooked. Note: When a vehicle is used both for personal and business use, the expenses must be prorated based on miles driven for each purpose.
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Luxury Car Rules May Limit Vehicle Write-Offs
  • Posted on September 30, 2011
Unfortunately, if you deduct actual expenses for business use of your car, you probably find your write-offs for depreciation restricted due to so-called luxury car limitations. And most any cars (including trucks or vans) fit the IRS definition of a "luxury vehicle," regardless of their cost. If a vehicle is four-wheeled, used mostly on public roads, and has an unloaded gross weight of no more than 6,000 pounds, the car is considered a "luxury vehicle."
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Tax Breaks for Qualified Plug-in Electric Vehicles


  • Posted on October 2, 2009
Current tax law provides for two separate credits for qualified plug-in electric vehicles.  One provides a tax credit for the purchase of electric cars, and another to provide credit for low-speed or two- or three-wheeled vehicles commonly referred to as neighborhood vehicles.
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    27109 Harper
    St. Clair Shores, Michigan 48081
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