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Question
I'm a consultant can I deduct my car expenses? If so what % of my expenses
AI accountant’s answer:
Yes, as a consultant, you can deduct your car expenses related to your business. There are two methods to calculate the deduction: the Standard Mileage Rate and the Actual Expenses method. 1. Standard Mileage Rate: For the 2022 tax year, the IRS standard mileage rate is $0.585 for the first half of the year (January to June), and $0.625 for the second half (July to December). With this method, you multiply the business miles driven by the applicable standard mileage rate to calculate your deductible expenses. You'll need to track and document your business miles driven throughout the year. 2. Actual Expenses method: With this method, you'll need to track and document all car-related expenses such as gas, maintenance, repairs, insurance, depreciation, and more. You will then calculate the percentage of your car's business use to determine the deductible portion of the expenses. To determine the percentage of business use, divide the total business miles driven by the total miles driven for the year. For instance, if you drove 15,000 miles in total and 10,000 were for business purposes, your business use percentage would be 66.67% (10,000 / 15,000). It's important to keep accurate records for whichever method you choose. You can select the method that provides you with the higher deduction, but keep in mind that there are some limitations and requirements for switching between the methods.
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Keeper’s AI Accountant

This AI accountant is powered by GPT-4, but has up-to-date knowledge of tax law. It’s been trained on federal and state tax updates for 2023. With credentialed tax professionals fact-checking its responses, it applies IRS rules to real-world situations.

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File taxes.

Keeper helps independent contractors and freelancers discover tax deductions and file taxes.

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Ask an AI Accountant

A free tool by

Question
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AI accountant’s answer:

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

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This is some text inside of a div block.

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Not Correct.
Icon check
Looks good

Keeper’s AI Accountant

This AI accountant is powered by GPT-4, but has up-to-date knowledge of tax law. It’s been trained on federal and state tax updates for 2023. With credentialed tax professionals fact-checking its responses, it applies IRS rules to real-world situations.

Find write-offs.
File taxes.

Keeper helps independent contractors and freelancers discover tax deductions and file taxes.

Get started