Can this be considerd a "Tax-Write-Off"? - GoFuckYourself.com

Babagirls · 01-08-2004, 02:24 PM

i have a friend that just bought a new truck. but hes havin a hard time payin for it...he works at a Sport Bike Shop that his brother owns and helps run it for him. He uses the truck to go across country to various bike events to promote the bike shop, uses it to haul new bikes to and from destinations.....could that be a Tax Write Off??? If not him, maybe his bro can write if off??? I think he can write off the gas $$ ....but the truck too?

Fu-Q · 01-08-2004, 02:26 PM

also depends on how much the truck weighs, what state, etc

XxXotic · 01-08-2004, 02:26 PM

as long as he can prove it's used primarily for work, then yes, it's a write-off in most cases

jasmine · 01-08-2004, 02:27 PM

For business use of the truck I do believe he can write off certain things.

Gas (milage should be recorded for business use)

Did he buy it or lease it ?

JDog · 01-08-2004, 02:27 PM

Quote:

Originally posted by XxXotic
as long as he can prove it's used primarily for work, then yes, it's a write-off in most cases

This is true! I was able to write off my truck & mileage last year for the truck!

Also, you want to write off mileage, not gas, cuz you get like 30 cents per mile for business use!

jDoG

jungar · 01-08-2004, 02:28 PM

Yes, as XxXotic said, if the truck is used for business purposes, then your friend should be able to write it off as a tax deductable.

Regards,

Jungar

twistyneck · 01-08-2004, 02:28 PM

Hell yeah but let an accountant figure out how to do it. The beauty of self-employment is that you can write almost anything off if you are clever enough. Just be careful.

Babagirls · 01-08-2004, 02:31 PM

We live in Wisconsin......... he fianaced it through the dealership. Its a huge Chevy monster-truck kinda thing lol It was decked out a little....its not stock. He put shit on and in it. (I dont think that really affects anything).

Thanks for the tip on write off the milage..not gas

JDog · 01-08-2004, 02:38 PM

Quote:

Originally posted by twistyneck
Hell yeah but let an accountant figure out how to do it. The beauty of self-employment is that you can write almost anything off if you are clever enough. Just be careful.

Yes this is a great thing about self-employment! But you just don't want to write off too much shit otherwise you get red flagged.

jDoG

Jedimaster · 01-08-2004, 02:48 PM

that's right,,,30 cents per mile.

AllisonWonderland · 01-08-2004, 03:55 PM

Actually, it was 36-cents in 2003 and is 37.5-cents for 2004.

Your friends brother should have bought the truck through the business, and let him use it as a benefit or in lieu of some pay.

01-08-2004, 02:24 PM	#1
Babagirls Text Writer Join Date: Feb 2001 Location: Wisconsin Posts: 18,812	Can this be considerd a "Tax-Write-Off"? i have a friend that just bought a new truck. but hes havin a hard time payin for it...he works at a Sport Bike Shop that his brother owns and helps run it for him. He uses the truck to go across country to various bike events to promote the bike shop, uses it to haul new bikes to and from destinations.....could that be a Tax Write Off??? If not him, maybe his bro can write if off??? I think he can write off the gas $$ ....but the truck too? __________________ Need a Text Writer? Blogs\|Reviews\|Descriptions\|Paysites\|TGP's\|Stories ICQ: 397892500

01-08-2004, 02:26 PM	#3
XxXotic Confirmed User Join Date: Jun 2002 Location: Da Swamps Posts: 8,500	as long as he can prove it's used primarily for work, then yes, it's a write-off in most cases __________________ Sponsors.. Tired of people not using your shitty RSS Feeds? Let Us Help You! Oxeo - Serious Hosting For Serious Webmasters. iCQ:135.887013

01-08-2004, 02:27 PM	#4
jasmine Confirmed User Join Date: Aug 2001 Location: Virginia Posts: 1,013	For business use of the truck I do believe he can write off certain things. Gas (milage should be recorded for business use) Did he buy it or lease it ? __________________ I've been getting paid by SexOnTheSide for 10 years!

01-08-2004, 02:31 PM	#8
Babagirls Text Writer Join Date: Feb 2001 Location: Wisconsin Posts: 18,812	We live in Wisconsin......... he fianaced it through the dealership. Its a huge Chevy monster-truck kinda thing lol It was decked out a little....its not stock. He put shit on and in it. (I dont think that really affects anything). Thanks for the tip on write off the milage..not gas __________________ Need a Text Writer? Blogs\|Reviews\|Descriptions\|Paysites\|TGP's\|Stories ICQ: 397892500

01-08-2004, 02:26 PM	#2
Fu-Q Confirmed User Join Date: Jul 2003 Location: Seattle Posts: 1,546	also depends on how much the truck weighs, what state, etc

01-08-2004, 02:28 PM	#6
jungar Confirmed User Join Date: Jul 2003 Posts: 377	Yes, as XxXotic said, if the truck is used for business purposes, then your friend should be able to write it off as a tax deductable. Regards, Jungar

01-08-2004, 02:28 PM	#7
twistyneck So Fucking Banned Join Date: Jan 2002 Location: Hanging by the neck until dead. Posts: 4,660	Hell yeah but let an accountant figure out how to do it. The beauty of self-employment is that you can write almost anything off if you are clever enough. Just be careful.

01-08-2004, 02:48 PM	#10
Jedimaster Registered User Join Date: Dec 2003 Posts: 2,120	that's right,,,30 cents per mile.

01-08-2004, 03:55 PM	#11
AllisonWonderland Confirmed User Join Date: Mar 2002 Location: oHIo Posts: 248	Actually, it was 36-cents in 2003 and is 37.5-cents for 2004. Your friends brother should have bought the truck through the business, and let him use it as a benefit or in lieu of some pay.