| Author |
Message |
    
Andrew Vick (Afv)
| | Posted on Friday, March 22, 2002 - 11:33 am: | 
|
If anyone has an opinion, please speak up. I'm wondering how a Land Rover, or any other vehicle for that matter, can be written off through a small, sole-proprietor business. If I pay cash, can I depreciate it over time, like 5 years? If I lease, can I deduct the monthly as a business expense?
Thanks in advance! |
Neal Glessner (Nealg)
| | Posted on Friday, March 22, 2002 - 12:42 pm: |
|
In a business, there are usually greater advantages to lease. If a vehicle weighs over 6k lbs, you can depreciate it much more rapidly. All new RR are over 6k lbs and the Disco SD weighs 6060. Also since it is a "multi-purpose" vehicle, you do not have to pay luxery taxes. If you call your local dealer they will mail or fax a good write-up on this topic.
Every business' finances are different. I would ckeck with your accountant rather than with someone that does not know the finacial details of your company.
I hope I helped,
Neal Glessner
Glessner Alarm & Communications, Inc
Hagerstown, MD |
gil
| | Posted on Friday, March 22, 2002 - 01:06 pm: |
|
you can depreciate it like it was a dump truck.. something like 39% in the first year compared to 9% for a similar luxury car. nice loop hole. I started a shell corp so I could do just that. |
|
Closed: New threads not accepted on this page