914's and taxes, how do I write off my a/x car? |
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914's and taxes, how do I write off my a/x car? |
Trekkor |
Dec 9 2004, 11:53 PM
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#1
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I do things... Group: Members Posts: 7,809 Joined: 2-December 03 From: Napa, Ca Member No.: 1,413 Region Association: Northern California |
I "sponsor" myself. I have permanent advertising on the car for my business.
How do I legally write off my car as a business expense. Or am I just entitled to the cost of the window banner? What do the big sponsors do? (IMG:style_emoticons/default/confused24.gif) KT |
anthony |
Dec 10 2004, 08:20 PM
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#2
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2270 club Group: Benefactors Posts: 3,107 Joined: 1-February 03 From: SF Bay Area, CA Member No.: 218 |
I wasn't trying to be harsh. My dad was self employeed for 20 years so I know the way it works. It would have been hard to stay in business if he didn't maximize pre-tax business expenses and do as much on the side cash-work as he could. And he still paid a ton in personal and employee taxes. I'm not against maximizing those business expenses, I'm just saying to do it in a way that doesn't send up a big red flag.
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