Vehicle Tax Write -offs (2005)
I started my business in 2004 (an LLC). I have purchased investment property and now need to purchase a vehicle. I know that the tax laws have changed, but I would like to know how much I can write off. Does the vehicle have to be 6,000 lbs. or more for me to write off the entire vehicle price? Or, how much can I actually write off? Is it OK that I have only an LLC (extension of me as an individual) or do I need to have a corporation?
Thanks in advance to anyone who can help.null
consult a proper tax attorney in your area. dont think that its a "free vehicle" as the "hummer law" has been changed. the vehicle has to be used exclusively for biz purposes or you only get to write off a portion.
best bet, consult your local CPA or tax attorney.
What was the "Hummer Law"?
Thanx, Don