Quote:
Originally Posted by cooper barrett
I haven't done a company vehicle for quite some time, I write off the mileage or take expenses, I get the same mileage write on a used vehicle as a new one and unless something has changed, expenses are done the same on used also.
What's the benefit of buying new and trading it in to be able to write another one off.
I know you're in a service business so 95% of your miles are expensed...
I always had a work truck and a business car, business car was almost always a 2 year old AMG thus not taking the depreciation hit while still under a MB service policy.
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He’s probably referring to bonus depreciation that you don’t get with used. That would benefit him if he doesn’t keep it for the 5 year life.
I’m on the other end. My position is industry standard is the business provides agronomists and managers a vehicle that they also drive to and from work. So I’m taking 100% of the bastard and the corporation pays repairs. I’m not dicking around with mileage logs, percentages, allocations, goddamned cluster**** rocket science equations to calculate a couple thousand dollars gain when you trade the ****er off.
Not this ****ing guy. Corporation owns the pickup per industry standard. No sense making something simple complicated to the sake of the IRS.