mariacarreon6152 mariacarreon6152

27-12-2022
Business

Answered

Ricardo uses his personal vehicle in his sole proprietorship. He keeps no records of any kind regarding his business use of the car and doesn't really know for certain when and where he used the automobile for business. Which of the following is correct? *
O Ricardo should deduct a good-faith estimate of his expenses for the auto as a business expenses.
O Ricardo should estimate his total vehicle expenses for the year, then deduct 50% of that amount as business expense.
O Ricardo could have leased a comparable vehicle for $3,600 for 2016. Therefore, he should deduct $3,600 as a business expense.
O Ricardo cannot deduct any vehicle expenses because he has no record of his expenses.

Answer :

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