+59
You should only be able to write off practical work vehicles, amirite?
by Key-March-48954 days ago
my old boss used to have a company Harley
by Organic_Economics6754 days ago
A vehicle doesn't need to be a truck to write it off. It's transportation. And a high trim truck serves as comfortable transportation and it's capable of towing. Why do you care? This is Karen behavior
by Anonymous4 days ago
I think the problem is determining what constitutes a practical vehicle from a tax perspective. Features like leather seats seem luxurious but they're also easier to clean and are more durable than most fabric interiors. I ended up over buying a truck a decade ago because it needed a backup camera and sensors to make it safe for my wife to drive it, and these features were only available in luxurious vehicles at the time. The car companies do a great job of creating a sales ladder where each level is composed of practical features and luxury features to make it easier to push people to buying more expensive vehicles; but these practical features can always be used to justify the necessity of buying a vehicle. To make matters worse, not all corporate use of vehicles serves the same purpose. If you're driving customers around that constitutes a different set of needs than using a vehicle to haul horse manure. From a tax perspective, it is probably more profitable to allow all vehicle deductions than to try to determine what is practical for every business.
by Anonymous4 days ago
Who cares? Everyone is taxed to death already. It doesn't effect anyone
by adelbertblanda4 days ago
Under the current IRS tax code, any usage of the vehicle for purposes other than work is still taxable. So if they are not hauling materials, they can only count driving to and from work. If trips other than to and from work exceed a certain percentage (I forget the exact percentage) the entire vehicle is no longer a work vehicle. Below that percentage, the driver owes taxes on any trips outside of specific work related tasks.
by brendon524 days ago
I believe OP is speaking to buying "luxury" vehicles as work vehicles and writing off the big purchase, not necessarily the use afterwards.
by Anonymous4 days ago
They can't even count driving to and from work. They can count work miles driven, but that does not include the commute from, or to, home. And even all of that assumes that the company is paying it; it's the company that takes the expense. W-2 employees don't get to take any sort of mileage deductions at all.
by Organic_Economics675 4 days ago
by Anonymous 4 days ago
by Anonymous 4 days ago
by adelbertblanda 4 days ago
by brendon52 4 days ago
by Anonymous 4 days ago
by Anonymous 4 days ago