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#2 (permalink) |
Evil Priest: The Devil Made Me Do It!
Location: Southern England
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Do you mean a financial write off, or a physical write off?
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#6 (permalink) |
A Storm Is Coming
Location: The Great White North
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If you own the vehicle personally you would keep records of all expenses and the miles you drive. Your work miles - less comute and personal miles - would be deductable as a business expense as long as you itemize. It is simpler to do this if you lease as you just write of a percentage of the lease payment. If you own the vehicle, you'd establish a depreciation schedule.
If the company own the vehicle - in other words, if it is registered in the company's name - you'd follow most of the same above but could write off or depreciate the entire amounf. Unless it is used for personal use at times. Make sense?
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If you're wringing your hands you can't roll up your shirt sleeves. Stangers have the best candy. |
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#7 (permalink) |
Insane
Location: The lovely Northeast
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I actually heard of a business taking the hummer as a huge write-off and getting some sort of subsidy or something in addition. I don't know if this is even still legal, but in some states/places there were huge tax write-offs and even subsidies for buying farm equipment. The way they decided about the subsidy was that the owner had to live X number of miles from a big city (the way they decided you're a farmer), the vehicle had to weigh over X number of pounds (the way they decided it was farm equip). There may or may not have been other stipulations, but this is how it used to work. One of my buddie's dad's had a business acquaintence who did it I believe. Anyways, i'm sure you can google it and find the results you're looking for!
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#8 (permalink) | |||
Tilted Cat Head
Administrator
Location: Manhattan, NY
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if you're looking to get it for "nothing" that's not the case. I do hope you understand "write off" doesn't equal "free."
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suv, write |
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