Your vehicle
Business-use share of the cost$64,000
First-year deduction$64,000
Illustrative first-year tax saved$20,480
Keep a mileage log. If business use later drops below 50%, part of the deduction is recaptured (added back to income).
Educational only โ not tax, legal, or financial advice. ScanMyTaxes is a software tool, not a tax preparer or advisor, and does not prepare or file returns. Every figure here is an estimate based on the information you enter; results are not guaranteed and depend on your specific situation. Confirm all strategies, eligibility, and numbers with your own qualified tax professional before acting. Using this tool does not create a client relationship.