07-14-2020, 09:05 PM
(07-14-2020, 07:13 PM)panamaniac Wrote: I know that advertising is a deductible business expense (i.e. you pay to advertise your business), but I would not see the basis for a deduction when third party advertising is placed on you car to generate income.
In order to earn the advertising income, I would hypothetically incur expenses. So if I were paid to drive around the city showing the advertising, I would expect the gas and maintenance to be deductible. But in this case, I think the idea is that one is driving around anyway so there wouldn’t be additional expenses. If the contract specified frequent carwashing, though, that might be deductible.