01-22-2005, 06:28 PM
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 Re: How to deal with car purchase in US taxes? kimshapiro100[at]yahoo.com wrote: - quote - > How to deal with car purchase in US taxes ?
Since she is required to keep track of mileage, both> My sister lives in California. She is self employed and has > an LLC. > Recently she bought a small luxury pre-owned SUV for > $28,000. It is under 6,000 lbs in weight. Mileage 45,000. > What is the best way for her to write off this purchase ? > Depreciation ? (how much could she write off in the first > year etc) or write off actual expenses ? or any other > choices ? > Is there any deadline if she chooses any of the choices > available ? Any suggestions ? business and total mileage anyway, and since the truck is a so called luxury vehicle (IRS terms, not mine!) seems it's easiest just to take a deduction for number of business mileas times 37.5 cents per mile. Also cuts down on a lot of record keeping. ChEAr$, Harlan Lunsford, EA n LA Fri 21 Jan 2005 << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
01-21-2005, 02:18 PM
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| How to deal with car purchase in US taxes? How to deal with car purchase in US taxes ? My sister lives in California. She is self employed and has an LLC. Recently she bought a small luxury pre-owned SUV for $28,000. It is under 6,000 lbs in weight. Mileage 45,000. What is the best way for her to write off this purchase ? Depreciation ? (how much could she write off in the first year etc) or write off actual expenses ? or any other choices ? Is there any deadline if she chooses any of the choices available ? Any suggestions ? Thanks in advance for your help. Kim << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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| car, deal, purchase, taxes |
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