Writing Off a Business Vehicle? Think Twice! 🚗💸
Автор: David Dedman, ChFC®️, AWMA®️
Загружено: 2025-03-24
Просмотров: 4311
Описание:
A huge tax deduction sounds amazing, but there’s a catch—and it could cost you later.
✅ Yes, you can deduct a big chunk (even up to 100% with bonus depreciation).⚠️ But here’s the downside:
Personal use? The IRS limits what you can deduct. Mix business and personal miles? You better keep detailed records or risk losing deductions.
Selling the vehicle? The IRS might claw back that deduction through depreciation recapture, meaning a surprise tax bill when you offload the car.
Alternative? If you choose the standard mileage deduction, you get smaller annual deductions but avoid the complexity and tax hit later.
Big write-off now or less tax pain later? Know the trade-offs before you commit! 🚦
#BusinessTaxTips #VehicleWriteOff #TaxSmart #smallbusinesstips
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