06/18/2026
Using your truck for your business or rental property?
The mileage deduction might not be your best option.
We'll use my old 1984 Toyota Pickup as an example.
Let's say I bought it in 2026 for $10,000. I drive it 5,000 miles for business and 2,000 for personal. The gross vehicle weight rating is 4,500 pounds.
Mileage Method
-$0.725 x 5,000 biz miles: $3,625 deduction
-Depreciation: $0, it's included in the mileage rate
-Fuel: $0, it's included in the mileage rate
-Insurance: $0, it's included in the mileage rate
-Repairs: $0, it's included in the mileage rate
-Interest paid: YES - $1408 x 71% = $1,000
Total under mileage method: $4,625
Actual Expense Method
-Depreciation: 71% business use x $10,000 basis = $7,100
-Fuel: $3 a gallon at 16mpg over 5k miles = $950
-Insurance: $120 x 12 months x 71% biz use = $1,022
-Repairs: $1500 x 71% biz use = $1065
-Interest: YES - $1408 x 71% = $1,000
Total under this method: $11,137 - Year 1 Winner!
At Anselmo CPA, I always look a few years down the line.
After 5 years (if all variable stay similar)
Mileage method: $4,625 x 5 = $23,125
Actual method: $11,137 + (4,037 x 4) = $27,285
Actual method wins by $4,160.
Shoot me a message, happy to run this calculation for your vehicle.
