Please explain. My wife and I have our own business that she runs. She uses the Jeep to and from work and maybe 6 times a year for actual business. What do you do that you can write off the Jeep? I actually ran this by my accountant with putting it in our name or the business and he said it really doesn't matter. You will only be able to write off the amount you use it.
Please explain. My wife and I have our own business that she runs. She uses the Jeep to and from work and maybe 6 times a year for actual business. What do you do that you can write off the Jeep? I actually ran this by my accountant with putting it in our name or the business and he said it really doesn't matter. You will only be able to write off the amount you use it.
I forgot to add that when you Purchase a car you are able to write-off the interest on your payments in ADDITION to the depreciation.
This is the route I've always taken. Each CPA has their own route. Some use the Standard Mileage deduction where you get a set $ amount for each mile. I've never personally use that as I like this better for more expensive cars.
