Thread: Write offs?
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Old 12-21-2012, 06:34 PM
Smallaxe Smallaxe is offline
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Join Date: May 2007
Location: Central Wisconsin
Posts: 10,091
Are you setting up your pickup trucks for Depreciation??? Bad mistake even if it really IS 100% business use...
Start with Mileage at least the first year, so that you can always return to the SMR later on...
Trucks/cars are considered, "Listed Property" by the IRS Code, just like computers, phones and such...

Depr. is good for 3 years,,, then What? Buy another Truck or spend a lot on repairs???
I always advised clients to think about their usage and make a decision for the long term... almost always they chose the SMR...

Its been a few years now since I did that job, so some details may have changed, but I do SMR on my taxes every year...
Now that I know that clay's texture(platelets) has nothing to do with water infiltration, percolation, or drainage
,,, I wonder what does...
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