Auto Rules - 2 CPE Credit Hours
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Auto Rules - 2 CPE Credit Hours

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Operating costs for vehicles used in the course of a taxpayer’s business are deductible. Thus, when taxpayers use their vehicles in their businesses or employment, they can deduct that portion of the cost of operating their vehicle. Such costs that can be deducted are property taxes that are paid on their vehicle if deductions are itemized on Schedule A. This mini-course reviews apportionment of personal and business use, the actual cost method and the standard mileage method, and expensing. Moreover, this presentation informs practitioners about topics such as the benefits and costs of leasing versus owning, and working condition fringe benefits. Completion Deadline & Exam: This course, including the examination, must be completed within one year of the date of purchase. In addition, unless otherwise indicated, no correct or incorrect feedback for any exam question will be provided.


Course Level: Overview. This program is appropriate for professionals at all organizational levels. (2 Credits)


Learning Assignment & Objectives As a result of studying the assigned materials, you should be able to meet the objectives listed below.


Prerequisite: None


Recommended Credits: 2 CPE Hours




At the start of the materials, participants should identify the following topics for study:


* Apportionment of personal & business use

* Deduction limitations using actual cost method

* Expensing - §179 * Predominate business use rule

* Auto leasing

* Standard mileage method

* Auto trade-in vs. sale

* Employer-provided automobile

* Nonpersonal use vehicle

* Reporting of employer-provided automobile


Learning Objectives


After reading the materials, participants will be able to: 1. Identify and implement various tax vehicle depreciation (§168) and expensing (§179) methods describing their requirements and limitations under MACRS and make basis, business use and deduction computations.


2. Explain the predominate business use rule emphasizing the result of less than 50% qualified business use, name the pros and cons of auto leasing and calculate monthly lease payments indicating what factors affect payments so clients may financially analyze leasing and know common leasing terms.


3. Review items included under the standard mileage method distinguishing items that may be separately deducted, determine the taxable fringe benefit value of an employer provided automobile using the general and special valuation methods ands list several qualified nonpersonal use vehicles discussing what reporting standards apply.


After studying the materials, answer the exam questions 1 to 10.

Customer Reviews:

JimCoco  (Thursday, 29 November 2012)
Rating: 5
The course was written over two years ago from the time I downloaded it... - outdated figures... lame. (Jim contacted us and let us know that we had forgotten to update that course. We fixed it within 5 minutes of learning our mistake. Thank You Jim!)

  • I have taken multiple courses from The CPE Discount Store.  They have great customer support and I received my certificate of completion on the same day.
    Bill P. - CPA - Richmond, New Hampshire
  • The CPE Discount Store offers a great selection of online CPE courses.   I was able to complete my course on my time frame which is a great way to take CPE.  Having the book as a reference for future work was also helpful.
    Tom N. - CPA - Longmont, CO
  • The CPE Discount Store course materials are very straight forward and easy to understand, I particularly like the website and customer follow up to my questions.
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We are required to take our Ethics courses every year and although these are important to remind us of an essential part of our work that if damaged, could destroy our career and possibly our organization. But these courses tend to become repetitive and mundane. I particularly liked this course for its case studies. One is about a female executive at Enron and her role prior to the Enron demise. The author makes you really think about how ethical is really ethical. If you take the course I think you’ll understand what I mean. Maintaining complete ethical behavior towards your organization, your clients, and the public is very difficult sometimes and I think you have to totally step back to see your situation most clearly in order to do what’s right.
This is a nice course which helped me get my required CPE.
Poorly written, many questions were nonsensical and the material was very old. This product was noted as a 2018 version but the quiz tested us on knowledge from the mid nineties. Very, very poor course and I would not recommend it to anyone.

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