vehicle as a tax write off?
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vehicle as a tax write off?
We are buying a vehicle that will be used mostly for the buisness. Someone told us that to have it as a tax write off, we have to Register it under the buisness name, is this correct?
Re: vehicle as a tax write off?
I don't know exactly how it works in the US, but I'm pretty sure that a lease is easier and cheaper in the long run if it's for business.
Re: vehicle as a tax write off?
I changed my insurance to "business use" which is WAY cheaper for me than "personal use" AND I changed the registration to "business use" as well... that cost a bit more as they go by gross vehicle weight (a RAV4 is the lowest end of the scale!)
I log my business use, keep mileage records and take odometer readings on Jan 1st. Then my accountant managed to do something with that so that I end up with a very large tax refund!
I log my business use, keep mileage records and take odometer readings on Jan 1st. Then my accountant managed to do something with that so that I end up with a very large tax refund!
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