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How much can she deduct as a business expense

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Reference no: EM132110451

Question - Haley, a self-employed individual, drove her automobile a total of 20,000 business miles in 2015. This represents about 75% of the auto's use. The standard business mileage rate is 57.5 cents per mile for 2015. She has receipts as follows:

Parking (business only) $500

Tolls (business only) $200

Total repairs $1,000

If Haley uses the standard mileage rate method, how much can she deduct as a business expense?

a. $12,950

b. $12,200

c. $12,000

d. $11,500

Reference no: EM132110451

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