@jamesbakercpa: 🚗 Thinking about writing off a vehicle for your business? Here's what you need to know about the Section 179 deduction: 1️⃣ Vehicles over 6,000 lbs, like a $150K Range Rover, can qualify for a 100% deduction: but only if they’re used 50%+ for business. 2️⃣ For online businesses, proving that much business use can be tricky. You'll need detailed logs of mileage and usage. 3️⃣ Contractors and businesses that genuinely need heavy vehicles (e.g., to carry materials) can benefit the most. 💡 Pro Tip: Don't buy a truck or SUV you don’t need just for the tax break. It's about strategic, justifiable expenses! Need advice to make the most of your deductions? Schedule a call with me or the team before tax season ends! #taxes #internationaltax #cpa #accountant #taxconsultant #IRS #llc #llcusa #business #savemoney

Jim Baker

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Region: IT

Wednesday 29 January 2025 16:51:28 GMT