WRITE OFF 100% OF YOUR NEW TACO!!!

http://www.section179.org

CHECK THIS OUT IF YOU OWN A BUSINESS AND NEED A WRITE OFF!!

 

not many people know about it

 

it needs to be a sticky till the end of the month

 

I am a salesman for a living.....good to know I SOLD you on the title!! haha

 

One thing to keep in mind is that for tacoma because the weight rating is under 6000 gvwr, the only way to qualify for the higher deduction is to make sure you get a 6 ft bed.

 

You can write off 100% of any vehicle no matter what he weight as long as you purchase it the right way. This is good info for anyone that doesnt know about it though.

 

Depends on the situation, for that I would consult your tax guy. For me I bought and titled most of my vehicles in my business name with business money that way hey are always seen as a business expense instead of paying my self that income then using it to make a car payment and deduct business use the company buys the vehicle and pays for it and like most business expenses that is pre tax money. Since it is a business liability of the company the money used to buy cars is the same as computers or anything else and never taxed as income and the depreciation is still deductible with all the other business assets. Keep in mind this is for vehicles you use for business the IRS wouldn't approve of people buying there personal cars like this. Well I would assume not at least I'm not a tax guy and please consult I e before makin your own decision as everyone's situation is different.

 

You sir might be getting a christmas card from me this year!!!

 

Former IRS Revenue Agent here...

Make sure that the vehicle in question is MOSTLY USED for your business, otherwise if AUDITED, it will be disallowed. Once an amount (any amount) is disallowed you will owe said amount + interest + ANY applicable penalties.

When I was with the IRS, 8% of commercial/schedule C returns were audited, the IRS is working to bring that number to up 20%.


Just FYI.

 

Fortunately.......this still works for me!!! I am so happy right now you would never believe it! I might have mod money much sooner than I thought!!!

 

Finally a decent payoff for working 24/7. OP....I am dedicating my future build to you!!

 

I was under the impression that you would get full amount as long as it had a 6ft bed. weight was not an issue but what you said makes sense. Waiting for my accountant to figure it out and call me back.

 

You can also write of your sales tax off the purchase if you itemize.

 

Yes you are right again wise one!

 

wait, i went to the dealership and they said that you can write off a lease and even get the tax and license in payments you dont have to pay them both at once.

they way we found out is that we said the truck was going to be used for our business and then the sales man explained to us the write off process through a lease


how is this one different?

 

With all due respect, don't take tax advise from people that sell cars, anymore that you shouldn't go to the barber shop when you are sick.


There is a WEALTH of tax info online, including the IRS website. Educate yourself. If you mess up on your returns due to faulty info, it will stil be you paying up for it. Not your accountant, and certainly not your dealership personnel!