A new bus company started in 2018. It transports passengers all over united states. I know the actual expenses are an option but since a bus is 3 times the size of a auto vehicle, I was wondering if there was a mileage deduction different from that of the standard for auto vehicles.
Trucks and Buss are excluded from the standard mileage deduction. However, you can still claim expenses tied to the use of your truck such as; Gas, maintenance (oil change, tires, cleaning etc.), anything you have to pay in order to maintain your truck and keep it running. If you are a truck owner operator, you can also include;
Insurance
Interest Payments
Leasing fees
Depreciation
You would want to use the actual method, (as there is no standard mileage method for a bus) because it costs you a lot to drive a bus in the cost of the bus (depreciation taken of this) the fuel, repairs, maintenance etc, which would be much larger than the cost of driving an auto or pickup.
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