another big tax write off?

[Tharrell]

I sold cars for a couple of years. If you do go with a lease keep a few things in mind. You can negotiate just like a purchase. You can prepurchase excess mileage at a discount. Lease rates are negotiable too.
All of that being said. The only reason new car dealers lease vehicles is to get nice used vehicles to sell at their lots 2-3 years later and a captive customer. See, you can't "shop" a used vehicle.
That's really why they're in business anyway. They don't make that much on new vehicles because you can go 20 miles down the road and get a better price. A used vehicle has a minimum $1500 markup. What I mean is, when you do all of your dealing and the salesman is crying saying you're killing him, he's making at least $1500 on the deal.
I made $7500 commision on 2 used cars at Gate City Lincoln one time. The dealer made more than that.
Probably better to buy and use section (179?)

[hughmcjr]

Writing off the payment and gas (ALL THE GAS) is better than mileage. It is tough to track how much gas is used just for business. Not like they are going to follow you around.

[VWBOBD]

Originally Posted by hughmcjr

Writing off the payment and gas (ALL THE GAS) is better than mileage. It is tough to track how much gas is used just for business. Not like they are going to follow you around.

you can still write payment off as well as mileage @ $.41.
At this rate a vehicle getting 15 mpg you could write off $6.15 per gallon. You can also write off insurance .And if you ever get audited, dont think they wont trace you alleged rout to see if it matches your claims....they are evil you know.

[scott's turf]

Originally Posted by VWBOBD

you can still write payment off as well as mileage @ $.41.
At this rate a vehicle getting 15 mpg you could write off $6.15 per gallon. You can also write off insurance .And if you ever get audited, dont think they wont trace you alleged rout to see if it matches your claims....they are evil you know.

No, no, no. You can either write of expenses (depriciation, fuel, repairs, insurance, etc) or take the standard mileage rate. Not both!

[hughmcjr]

Originally Posted by VWBOBD

you can still write payment off as well as mileage @ $.41.
At this rate a vehicle getting 15 mpg you could write off $6.15 per gallon. You can also write off insurance .And if you ever get audited, dont think they wont trace you alleged rout to see if it matches your claims....they are evil you know.

All day long I can go where I want to and any store or location that I want to as part of my business. If I go to Wal mart or a grocery store for food for me and my employees, how can they tell me that is not justified. The gas is not just for your route. How about trips to the IRS or other beauracracies, potential customers, banks, Post office, bills to be dropped at said business'. Good luck trying to send someone out to follow you and track that and then PROVE that it is not legit. They really don't have that kind of manpower, time, and yes believe it or not money. I can spend my money and gas from my business how I want and yes it is legit as a write off. I am a business owner 24/7.

[hughmcjr]

Originally Posted by scott's turf

No, no, no. You can either write of expenses (depriciation, fuel, repairs, insurance, etc) or take the standard mileage rate. Not both!

Per vehicle. One vehicle you can write off one way and the other the other way.

[VWBOBD]

Originally Posted by hughmcjr

Per vehicle. One vehicle you can write off one way and the other the other way.

yOU CAN TAKE THE DEPRECIATION AS MILEAGE AND STILL GET ALL THE OTHER DEDUCTS TOO, BEEN DOING IT MANY YEARS, BEEN AUDITED 2 TIMES AND BOTH TIMES THE OWED ME A LITTLE BIT.

[VWBOBD]

Originally Posted by hughmcjr

All day long I can go where I want to and any store or location that I want to as part of my business. If I go to Wal mart or a grocery store for food for me and my employees, how can they tell me that is not justified. The gas is not just for your route. How about trips to the IRS or other beauracracies, potential customers, banks, Post office, bills to be dropped at said business'. Good luck trying to send someone out to follow you and track that and then PROVE that it is not legit. They really don't have that kind of manpower, time, and yes believe it or not money. I can spend my money and gas from my business how I want and yes it is legit as a write off. I am a business owner 24/7.

i'll remember that when the irs cleans your clock. I hope they dont , but they are evil and theres not much you can say or do when they make an asumption or acusation. any hoo, lets get back to grass talk

[ECS]

Originally Posted by hughmcjr

Writing off the payment and gas (ALL THE GAS) is better than mileage. It is tough to track how much gas is used just for business. Not like they are going to follow you around.

Not true, if you keep track of your work miles and your personal miles, it is very easy to track the percentage of fuel used for the year as you should be tracking how much fuel you put in aand have the re iepts o prove it anyway. If you do 100k miles a year and 20% is personal and 80% is for work, then 80% of your fuel would be the the gas used. I track every mile we use on both vehicles and track every drop of fuel in both, not really that hard to do if you keep proper records.