Originally Posted by Darryl G
I use my truck for work only and deduct actual cost as well. The cost to use a 3/4 ton for personal use is just too high. I use a 20 year old Honda Accord wagon that was my wife's car 2 cars ago....cheap to run and it's pretty much fully depreciated at this point. In fact I use it for work-related errands as well but have never bothered trying to recover that cost from the company.
i will agree with you, but then I also disagree its all relative to what your business makes, for instance you may say the cost of running a 3/4-1 ton truck is high and only be grossing 80k, vs. someone who says its actually quite inexpensive and they take 80k home consistently. not saying that is what you make, it is just an example, or maybe you have a mortgage, a credit card or two, a line of credit and still gross the same 80k and the other guy makes a little more and has no line of credit, no mortgage, 2 credit cards, but because he profits alot more he just pays them in full each month. so to him spending the money to operate a 3/4 ton that may get used for business use once a month, is worth it and he has a nice personal vehicle that isn't lettered up or anything.