Can I claim depreciation for my car as a sole proprietor if I have a log book by using the tax table
By Marc Sevitz · Updated
I am operating as a sole proprietor. I keep a log book for my car which I also use for business. Can I claim for depreciation and use the tax tables for that?
You would be able to depreciate your car over 5 years, but you need to then apportion it for the use of business travel based on the logbook. You would then need to also apportion your other fuel and car expenses by the same ratio and deduct those costs.