can you write off a car as a business expense?

[penguinbc]

Start a blog about that car. Write about the purchase process - why you want the car, where you went to look at it, what your family says about it, what friends say about it, what reviews say about it.

Document everything as you look for/buy the car you want and blog it.

Set up advertising for blog.

Buy car.

Document car experience after the sale.

Write off car. Your blog is for profit. You have adsense, etc on it - there's your proof. You had to buy the car or you wouldn't have any credibility as an expert on it. Your business hinges on your credibility as an owner, etc.

hahaha. Yeah, and do the same when you buy a new house as well. Oh and start a food review website, write off all your food. Or just one big review website that documents everything you spend money on and write it all off.

 

[kisforkarla]

got a quarter tank of gas...in my new e-class..
askin for tax advive on wf...but i look fllyyyyyyyy

Question is, can he dance like the Big Tymers? =)

OP: I'm a licensed tax preparer, here's my advice: Find a CPA locally and pay for an hour of consulting. There are a ton of different ways to go about business expenses. While there you may even find out about other expenses you are missing. Keep in mind, tax laws vary from state to state. Good luck!

 

[jdomaha]

hahaha. Yeah, and do the same when you buy a new house as well. Oh and start a food review website, write off all your food. Or just one big review website that documents everything you spend money on and write it all off.

Are you buying the house in your business name?

A food review website would make perfect sense. Document restaurants in town. You think the newspaper does it any different?

 

[1yerrot]

You will need to talk to an accountant in your own State, the law are all different depending on where you live. You definitely don't want to make financial decisions based on what you read on this forum. But as far as I know in some States leases can be written of under certain codes and of course gas mileage. But I never try to push it that far even with mileage because I honestly don't use my car for much business.

Sounds corny, but honesty is the best policy. It will cover your behind if Uncle Sam starts sniffin around. But again just buy a few hours from someone recommended in your State.

 

[1yerrot]

Are you buying the house in your business name?

A food review website would make perfect sense. Document restaurants in town. You think the newspaper does it any different?

Yeah, if you can LEGITIMATELY prove that the purchased is primarily for business you should be good. But just because something is purchased under a businesses name doesn't mean it will stand up to an audit.