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My question is regarding depreciation for a car/truck using
my question is regarding depreciation for a car/truck using an actual expense method. My business is a single member LLC.my question is do i absolutely have to have a mileage log ?? my car is 100% use… read more
Barbara
Barbara
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My question is regarding using car depreciation as a tax
hello my question is regarding using car depreciation as a tax deduction using actual expense methodlsay i bought a car this year , used it 100 % for business, took the actual expense depreciation and… read more
Alexander Efros
Alexander Efros
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
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I have a 20 year old Arizona LLC and have never depreciated
I have a 20 year old Arizona LLC and have never depreciated a vehicle throgh the business. Under section 13202 of the TCJA it seems liek if i buy a new Tesla for:Purchase $84,000Federal (7,500)Bonus D… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
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I opened a business for rental cars, my question is do i
my question is do i need to keep track on the mileage on the rental cars … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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This is for a tax question. What method do I use for
This is for a tax question.What method do I use for depreciation of an auto and for how many years?… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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As a sole propriter. Can i purcahse a car in my name and
can i purcahse a car in my name and deduct it on my tax treturn or do i need to estanblish an LLc first? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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For my business, if I kept my gas receipts, but I did not
Hello, for my business, if I kept my gas receipts, but I did not keep track of my mileage for my shop vehicle, I can't deduct anything, correct? I use it for personal use too.… read more
Tax.appeal.168
Tax.appeal.168
Principal
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This has to do with the Depreciation deduction for my
This has to do with the Depreciation deduction for my spouses business us of our car (we file jointly)... We purchased a new car in late Nov 2015, and she started using it for her business but only lo… read more
Shan-Nel Simmons
Shan-Nel Simmons
Tax Professional/Owner
Master's Degree
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We have a small business and would like to purchase a new
we have a small business and would like to purchase a new SUV gross vehicle weight over 6000 lbs. we would use it 90% for business. If we buy the vehicle in December 2015 vs. January 2016, would the d… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,472 satisfied customers
I bought a new-to-me used car in October 2014. I use the car
I bought a new-to-me used car in October 2014. I use the car 60% purposes - I own an LLC. Is there any connection between how I deduct the purchase of the car and whether I take the mileage or actual … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,472 satisfied customers
can I claim 2 vehicles on my tax return? The first one was
can I claim 2 vehicles on my tax return? The first one was used in my business Jan - Dec 2013 I want to use mileage deduction. The second one I purchased in Sept 2013, I want to depreciate (179) deduc… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
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Im in CA and about to buy a car and am weighing whether to
I'm in CA and about to buy a car and am weighing whether to lease or buy. The car will be bought or leased through the company I own (I have other cars i can claim for personal use). if i lease, i kno… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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I am a w-2 employee and I have a part time 1099 job as a driving
I am a w-2 employee and I have a part time 1099 job as a driving instructor. I am getting a car to use for this position. i think that the payments themselves are not deductible, but is there more of … read more
BK-CPA
BK-CPA
Bachelor's Degree
972 satisfied customers
I am a small buisness owner sole propriator construction .
I am a small buisness owner sole propriator construction . I bought a new truck that I paid cash for on 12/31/09 (refinanced the house) The price of the truck was $34,500. the milage that I used it in… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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Hello- I have a question concerning taking car and truck
Hello- I have a question concerning taking car and truck deductions in reference to filing an amended return on my taxes. I bought a new truck in 2007 for my business ( I'm self employed in a sole pro… read more
Merlo
Merlo
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I am leasing the car I use for business and am writing off ...
I am leasing the car I use for business and am writing off a portion of the lease. At the end of the lease, I would like to purchase the leased car and refinance it for 5 years. Can I treat the purcha… read more
WebTaxMan
WebTaxMan
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Bachelor's Degree
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can i write off my car if i have two and one is used ...
can i write off my car if i have two and one is used for a home business. IE I have a oil consulting business and I use my new car for transportation, can I write off my car payments if I use it prima… read more
GARY ELLIS
GARY ELLIS
Tax professional
Bachelor Degree
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I am the sole owner and employee of an S-corp services ...
I am the sole owner and employee of an S-corp services business. I do executive search for clients nationwide. What are the parameters for me to purchase a "company car" through my business when the m… read more
RD
RD
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