There are multiple ways to write vehicles off for businesses. We write my truck off against our rental property and the Mazda 6 was my wife’s business car when she was a 1099 employee. My Rx7 was listed as our daily....
Taking depreciation is far better than just writing off as an expense....
Exactly. Truck is written off for my property rentals in AZ. It is now the vehicle I take there to check on my properties. By happenstance the truck is able to tow my boat and RZR.
My friend just did this for 2018. His federal taxes went from $28k to $3k. He elected to take the depreciation all in one year. He bought a used 2015 Silverado for like $22k and put a full Carli/King suspension on it.
Thanks for the info, I need to get my business set up so I can do this and get a DD car...
