If you are like most people you work a job or for yourself and occasionally you must travel for work. Some employers provide transportation but most expect the employee to rent an automobile or drive their own. This way the employer will only pay the employee mileage and not have to actually own the vehicle. Either way the burden of transportation is left on the employee. If you must travel a lot and drive your own automobile then it can really add the mileage to your vehicle. Before you know it you must trade for a new one, since the mileage will make it impossible to keep. Depending on the mileage you are paid, sometimes you can come out to the good while other times you lose.
No matter the case, you must keep your automobile in tip top shape if you must rely on it for your business travel. This includes regular maintenance such as tune ups, oil changes and new tires. One item you must keep in full force is your auto insurance in order to protect yourself and your employer from law suits. Even if you rent a vehicle you must keep your auto insurance up to date.
There are tax advantages when using your own vehicle for business travel depending on your own situation. It would be wise to consult a tax attorney or CPA to make sure you are taking full advantage of all the tax deductions possible for your business travel. With all of these facts, you must decide whether to keep a vehicle just for business travel planning to trade it for a newer vehicle at regular intervals. This plan would give you the ability to receive a higher allowance for the vehicle at the time of trade since the mileage would be lower than keeping it for an extended time period. The other choice is to use your personal vehicle and keep it until it completely wears out before purchasing a new vehicle.
Source: http://vortexme.com/business-travel
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