Asked by: Najiba Dalzellasked in category: General Last Updated: 27th May, 2020
What kind of expense is a car repair?
Correspondingly, what expense are car repairs?
Car repairs are currently deductible in full the year they're made. A repair keeps your vehicle in efficient operating condition. Routine car maintenance is also currently deductible. For example, changing the oil, replacing air filters, installing new windshield wipers.
Likewise, what are the 3 types of expenses? There are three major types of expenses we all pay: fixed, variable, and periodic.
Beside above, what are the 4 types of expenses?
Terms in this set (4)
- Variable expenses. Expenses that vary from month to month (electriticy, gas, groceries, clothing).
- Fixed expenses. Expenses that remain the same from month to month(rent, cable bill, car payment)
- Intermittent expenses.
- Discretionary (non-essential) expenses.
Is a car payment a fixed expense?
The definition of fixed expenses is “any expense that does not change from period to period," such as mortgage or rent payments, utility bills, and loan payments. Lease / car loan payment. Vehicle insurance (if paying monthly)