Posts Tagged ‘tax deduction vehicle purchase’
Tax Deduction Vehicle Purchase
March 15th, 2011
Question: How do you go about filing a one time tax deduction for a vehicle?
I started a company but purchased the vehicle before I got the actual LLC. My vehicle is used for my business and I wanted to file for a one time tax deduction for using it. Help….
Answer: Your LLC must own the title to the vehicle. Can you refi with you as an individual personally guaranteeing the business will pay? You can still do mileage in a car your LLC doesn’t own.
Items on Amazon Right Now for Tax Deduction Vehicle Purchase:
A Promise Fizzles
More than a decade after the federal government approved the first captive to fund employer-sponsored benefits, the rate of adoption has lagged behind expectations.
Buy or Lease?
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Tax Deduction Vehicle
March 3rd, 2010
Question: Is the 2009 tax deduction itemized or is it added to the standard deduction?
I purchased a new car and was informed that i could deduct the sales tax. Filed my return but my preparer said that the standard deduction was greater than the sales tax of the vehicle so it didnt make sense to itemized it. I thought this tax deduction was in addition to the standard deduction?
Answer: You won’t get many answers here as the category is Taxes > Canada and this is a US question.
Your preparer is wrong: follow the instructions for form 1040 line 40a and Schedule L.
Items on Amazon Right Now for Tax Deduction Vehicle:
Does your business need tax help? Here’s what to avoid
Tax season is here, and deadlines are coming up a lot faster than most of us want to admit. If you’re stressing about income tax returns for your business, here are some helpful tips from the Associated Press.
TaxPlus – Tax Tips “Business Use of Vehicle”