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Business, 06.01.2021 18:00 vale1881

Ricardo uses his personal vehicle in his sole proprietorship. He keeps no records of any kind regarding his business use of the car and doesn't really know for certain when and where he used the automobile for business. Which of the following is correct? a. Juan should deduct a good-faith estimate of his expenses for the auto as a business expenses.
b. Juan should estimate his total vehicle expenses for the year, then deduct 50% of that amount as business expense.
c. Juan could have leased a comparable vehicle for $3,600 for 2016. Therefore, he should deduct $3,600 as a business expense.
d. Juan cannot deduct any vehicle expenses because he has no record of his expenses.

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