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My youngest brother is self employed and uses his truck for work. Bought new, he writes off depreciation and all other expenses combined until it is fully depreciated, then he writes off mileage at 56 cents (current rate). The truck is close to 10 years old and right at 100k miles.
I think he has written off close to $70k over that 10 years. He averages 25 MPG in a stripper Tacoma.
regards
Mech
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