Business Vehicle Tax Deductions

Maximize Your Business Vehicle Tax Deductions with Year-End 2024 Vehicle Purchases

As 2024 comes to a close, there is still time to reduce your tax liability through strategic vehicle purchases for business vehicle tax deductions. Whether you need a new SUV, pickup, van, or electric vehicle, there are significant deductions and credits available—but timing and proper planning are key. At Ken-Mar Tax, we specialize in helping...Continue reading

electrical vehicle tax deductions

New Business Tax Credits for Buying Electric Vehicles

The Inflation Reduction Act of 2022 amended the Clean Vehicle Credit, and added a new requirement for final assembly in North America that took effect on August 17, 2022.  Three major things to know about this new law when it relates to tax planning for your business and buying an electric vehicle: 1.The existing electric vehicle...

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