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Todd W
01-23-2006, 05:00 PM
This may be an odd question...

On top of website publishing, and programming I do mobil PC Repair (to people's homes). ALso to do some of my article writing I have to drive places to pickup parts and take pictures, etc.

So my scenerio is this. In Sept. 05 I got a new truck (Ford F250 Diesel - over 6,000 lbs). I can either depreciate the vehicle over the years or for the first year (2005) take a large deduction [Which would pretty much make me owe nothing this year, after combing the truck wtih other write-offs].

I`m pretty sure on paper I`ll be able to prove 75% of the trucks' life has been for work. So from what I`ve gathered I can write off 75% of the trucks value in a deduction this year :confused: Correct ?

Is there any reason not to do this?

If I remember correctly this was one of the reasons those new H2s were going off the lots to business men when they first came out - huge tax breaks... (ANd the truck weighs as much if not more so it fits in the same deduction weight class)

Chris
01-24-2006, 07:09 AM
I don't know if you can do this with your personal vehicle. I think that all you can do is write off x amount per mile driven for work... not counting commuting to a workplace.

Definitely ask an accountant.

Cutter
01-24-2006, 07:45 AM
Accountants can always offer better advice than anyone here. Tax law is complex to start off with, and to make it worse its changing constantly. I know a tax accountant who has to learn hundreds of pages of changes every single year.