truck tax question (signage)

Discussion in 'Business Operations' started by touhey33, Jan 6, 2006.

  1. touhey33

    touhey33 LawnSite Senior Member
    Messages: 778

    Quick question, I am going to take the mileage for my tax deduction on my truck. I use the truck for buisness mostly, but some personal use. I do have signage on my truck, so can I take the full deduction or not?
  2. Landscape25

    Landscape25 LawnSite Member
    from Florida
    Messages: 199

    You can deduct mileage while on business but not to your first job and home from last if you work from home. You should be writing down your mileage while using your truck for business. You can also do a percentage of all your vehicle expenses for business instead of mileage.
  3. lawnMaster5000

    lawnMaster5000 LawnSite Senior Member
    Messages: 591

    I am NOT an accountant.

    I have however recently read about this same topic on the IRS web site.

    As I recall, when you deduct the miles used for business purposes as you say you wish to do, you may not take further deductions on that vehicle. If you used a per-mile deduction in the past you may not use an expense based depreciation method this year or any year in the future on that vehicle. This rule goes in both directions I believe.

    Here is a link to Publication 463 (2005), Travel, Entertainment, Gift, and Car Expenses

    As far as I understand the cost of printing the advertising for your vehicle is separate from the vehicle depreciation and can have a separate depreciation schedule.

    best of luck
  4. turf dog

    turf dog LawnSite Member
    Messages: 108

    From my limited knowledge if your truck weighs over 6,000 gross, and you it use for business you can take a one time deduction for full purchase price, or you can depreciate it over 5 years. If you do this you can not deduct mileage. On pickup trucks like my GMC 1500 4wd it does not weigh 6,000 pounds but the irs lets you add full towing and cargo weight that brings it up to the 6,000 lbs. I hope this helps.
  5. mtdman

    mtdman LawnSite Gold Member
    Messages: 3,143

    A vehicle is a listed item and you cannot use 179 to deduct all at once.

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