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Old 06-24-2011, 06:24 PM
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rywnygc rywnygc is offline
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Vehicle maintenance write off?

I have been getting my oil changed at the dealership, so that I have service records for tax write offs. I could do my maintenance and save a crap ton of money now. Can I write it off if I do my own maint. as long as I have receipts for everything?
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Old 06-24-2011, 06:54 PM
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just save the receipts for the oil and filter and write it off. i do it on all my trucks and mowers.
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Old 06-24-2011, 07:46 PM
Kreios Kreios is offline
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You can write off anything that pertains to the business in anyway as long as you have receipts
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Old 06-24-2011, 07:50 PM
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And do you use it for personal use....then only a percentage.
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Old 06-24-2011, 08:04 PM
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stan the man stan the man is offline
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4 trucks are company my 1999 i do use for personal to.but my tax man put it all down for company use.lol
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Old 06-24-2011, 08:57 PM
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personal use? Y'all have time for personal use?...

Thanks for the info. I'd rather do my own maintenance anyhow.
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Old 06-24-2011, 09:34 PM
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vencops vencops is offline
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Quote:
You can write off anything that pertains to the business in anyway as long as you have receipts
In a way this is true.

Let me ask the OP, though....are you claiming the mileage or are you claiming expenses and depreciation?

If the company owns the vehicle, you can write off everything associated with it. If you claim the miles, though, the government assumes your upkeep and fuel are included in your write-off (+/- $0.51/mi.).

You can't claim mileage AND write off your vehicle expenses (to my knowledge).
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Old 06-24-2011, 09:45 PM
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Quote:
Originally Posted by stan the man View Post
4 trucks are company my 1999 i do use for personal to.but my tax man put it all down for company use.lol
Aren't tax men great I often wonder whether doing business in cash may be more honest than having a CPA/Tax man.
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Old 06-25-2011, 12:16 AM
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Exact Rototilling Exact Rototilling is offline
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Quote:
Originally Posted by vencops View Post
In a way this is true.

Let me ask the OP, though....are you claiming the mileage or are you claiming expenses and depreciation?

If the company owns the vehicle, you can write off everything associated with it. If you claim the miles, though, the government assumes your upkeep and fuel are included in your write-off (+/- $0.51/mi.).

You can't claim mileage AND write off your vehicle expenses (to my knowledge).
+1 This the way I understand it. Just track and keep your records either way.
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Old 06-25-2011, 07:41 AM
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the best job to have is drug dealer. tax free all cash and no taxes and making big money.
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