1. Welcome to Tacoma World!

    You are currently viewing as a guest! To get full-access, you need to register for a FREE account.

    As a registered member, you’ll be able to:
    • Participate in all Tacoma discussion topics
    • Communicate privately with other Tacoma owners from around the world
    • Post your own photos in our Members Gallery
    • Access all special features of the site

WRITE OFF 100% OF YOUR NEW TACO!!!

Discussion in '2nd Gen. Tacomas (2005-2015)' started by GoDeacsWFU23, Dec 18, 2011.

  1. Dec 18, 2011 at 9:55 PM
    #1
    GoDeacsWFU23

    GoDeacsWFU23 [OP] Well-Known Member

    Joined:
    Jun 9, 2011
    Member:
    #57986
    Messages:
    1,162
    Gender:
    Male
    First Name:
    Jonathan
    Clemmons, NC
    Vehicle:
    2013 Tacoma PreRunner TRD Sport
  2. Dec 18, 2011 at 10:00 PM
    #2
    GoDeacsWFU23

    GoDeacsWFU23 [OP] Well-Known Member

    Joined:
    Jun 9, 2011
    Member:
    #57986
    Messages:
    1,162
    Gender:
    Male
    First Name:
    Jonathan
    Clemmons, NC
    Vehicle:
    2013 Tacoma PreRunner TRD Sport
    not many people know about it
     
  3. Dec 18, 2011 at 10:00 PM
    #3
    GoDeacsWFU23

    GoDeacsWFU23 [OP] Well-Known Member

    Joined:
    Jun 9, 2011
    Member:
    #57986
    Messages:
    1,162
    Gender:
    Male
    First Name:
    Jonathan
    Clemmons, NC
    Vehicle:
    2013 Tacoma PreRunner TRD Sport
    it needs to be a sticky till the end of the month
     
  4. Dec 18, 2011 at 10:02 PM
    #4
    GoDeacsWFU23

    GoDeacsWFU23 [OP] Well-Known Member

    Joined:
    Jun 9, 2011
    Member:
    #57986
    Messages:
    1,162
    Gender:
    Male
    First Name:
    Jonathan
    Clemmons, NC
    Vehicle:
    2013 Tacoma PreRunner TRD Sport

    I am a salesman for a living.....good to know I SOLD you on the title!! haha
     
  5. Dec 18, 2011 at 10:18 PM
    #5
    tacodoc

    tacodoc Member

    Joined:
    Oct 13, 2010
    Member:
    #44629
    Messages:
    20
    Gender:
    Male
    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.
     
  6. Dec 18, 2011 at 10:55 PM
    #6
    platinumb

    platinumb Well-Known Member

    Joined:
    Jul 23, 2011
    Member:
    #60397
    Messages:
    505
    Gender:
    Male
    First Name:
    Patrick
    denver
    Vehicle:
    11 TRD OR DC Supercharged
    supercharger, focal/jl audio sound system, trd cat back
    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.
     
  7. Dec 19, 2011 at 12:11 AM
    #7
    platinumb

    platinumb Well-Known Member

    Joined:
    Jul 23, 2011
    Member:
    #60397
    Messages:
    505
    Gender:
    Male
    First Name:
    Patrick
    denver
    Vehicle:
    11 TRD OR DC Supercharged
    supercharger, focal/jl audio sound system, trd cat back
    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.
     
  8. Feb 17, 2012 at 3:00 PM
    #8
    BRYLONATOR

    BRYLONATOR I now own a RAM!

    Joined:
    Mar 9, 2011
    Member:
    #52680
    Messages:
    1,228
    Gender:
    Male
    First Name:
    El Conquistador
    Denver, Colorado
    Vehicle:
    Sold Taco&Tundra..now 93 FZJ80 baby!!
    Land cruiser will get LS3 and 4L65E!
    You sir might be getting a christmas card from me this year!!!
     
  9. Feb 17, 2012 at 3:24 PM
    #9
    The Driver

    The Driver Trail Runner/Barefoot Beach Runner/Snow Skier

    Joined:
    Dec 12, 2011
    Member:
    #68618
    Messages:
    1,858
    Gender:
    Male
    First Name:
    Raph
    Lakewood (Green Mountain), CO.
    Vehicle:
    '02 Extra cab 4X4 TRD SR5 3.4
    Aftermarket tranny cooler, 5100 Series Bilsteins, ToyTec Bilstein front coilovers, SPC UCA's, Alcan leafs, Class 3 Hitch, Alcan Leafs,
    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.
     
  10. Feb 17, 2012 at 3:29 PM
    #10
    BRYLONATOR

    BRYLONATOR I now own a RAM!

    Joined:
    Mar 9, 2011
    Member:
    #52680
    Messages:
    1,228
    Gender:
    Male
    First Name:
    El Conquistador
    Denver, Colorado
    Vehicle:
    Sold Taco&Tundra..now 93 FZJ80 baby!!
    Land cruiser will get LS3 and 4L65E!
    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!!!
     
  11. Feb 17, 2012 at 3:42 PM
    #11
    BRYLONATOR

    BRYLONATOR I now own a RAM!

    Joined:
    Mar 9, 2011
    Member:
    #52680
    Messages:
    1,228
    Gender:
    Male
    First Name:
    El Conquistador
    Denver, Colorado
    Vehicle:
    Sold Taco&Tundra..now 93 FZJ80 baby!!
    Land cruiser will get LS3 and 4L65E!
    Finally a decent payoff for working 24/7. OP....I am dedicating my future build to you!!
     
  12. Feb 17, 2012 at 8:24 PM
    #12
    BRYLONATOR

    BRYLONATOR I now own a RAM!

    Joined:
    Mar 9, 2011
    Member:
    #52680
    Messages:
    1,228
    Gender:
    Male
    First Name:
    El Conquistador
    Denver, Colorado
    Vehicle:
    Sold Taco&Tundra..now 93 FZJ80 baby!!
    Land cruiser will get LS3 and 4L65E!
    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.
     
  13. Feb 17, 2012 at 8:27 PM
    #13
    chris4x4

    chris4x4 With sufficient thrust, pigs fly just fine. Moderator

    Joined:
    May 8, 2008
    Member:
    #6497
    Messages:
    106,132
    Gender:
    Male
    First Name:
    FlimFlubberJAM
    Tenoe, AZ
    Vehicle:
    2013 Rubicon Unlimited,
    4.10 gears, sliders, and lots of buttons.
    This ^^^ Keep a milage log, and what the trips are for.
     
  14. Feb 17, 2012 at 8:55 PM
    #14
    TACWUT

    TACWUT Well-Known Member

    Joined:
    Dec 22, 2011
    Member:
    #69242
    Messages:
    820
    Gender:
    Male
    San Diego
    Vehicle:
    12 prerunner DC
    Flowmaster turndown, 5100 up front/5150 rear, maxtrac spindles, 2" tuff country add a leaf+TSB.
    You can also write of your sales tax off the purchase if you itemize.
     
  15. Feb 17, 2012 at 9:02 PM
    #15
    BRYLONATOR

    BRYLONATOR I now own a RAM!

    Joined:
    Mar 9, 2011
    Member:
    #52680
    Messages:
    1,228
    Gender:
    Male
    First Name:
    El Conquistador
    Denver, Colorado
    Vehicle:
    Sold Taco&Tundra..now 93 FZJ80 baby!!
    Land cruiser will get LS3 and 4L65E!
    Yes you are right again wise one!
     
  16. Feb 17, 2012 at 9:12 PM
    #16
    JStradaXR

    JStradaXR Well-Known Member

    Joined:
    Oct 29, 2010
    Member:
    #45384
    Messages:
    1,290
    Gender:
    Male
    First Name:
    Chuy
    Ontario CALI
    Vehicle:
    06 X Rated
    Everything but boost =[
    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?

    :notsure::notsure::notsure:
     
  17. Feb 18, 2012 at 11:15 AM
    #17
    The Driver

    The Driver Trail Runner/Barefoot Beach Runner/Snow Skier

    Joined:
    Dec 12, 2011
    Member:
    #68618
    Messages:
    1,858
    Gender:
    Male
    First Name:
    Raph
    Lakewood (Green Mountain), CO.
    Vehicle:
    '02 Extra cab 4X4 TRD SR5 3.4
    Aftermarket tranny cooler, 5100 Series Bilsteins, ToyTec Bilstein front coilovers, SPC UCA's, Alcan leafs, Class 3 Hitch, Alcan Leafs,
    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!
     
  18. Feb 18, 2012 at 11:16 AM
    #18
    OverRated

    OverRated Well-Known Member

    Joined:
    Jan 25, 2012
    Member:
    #71434
    Messages:
    305
    Gender:
    Male
    First Name:
    David
    San Jose, CA
    Vehicle:
    12 Tacoma / TRD-OR / DCSB
To Top