3 ms·
Is buying a new car every <2 years a requirement of being excessively wealthy?
by mmanfrin 11y ago
Is buying a new car every <2 years a requirement of being excessively wealthy?
- sriram_sun 11y agoIf it's a big SUV you can take write-offs. Here is some data from my accountant. "By way of example: $40k suv. $25k section 179. Then bonus is 50% of the $15k remaining $7500. Then a little bit of standard depreciation. So that vehicle would be a $32,500 deduction if new or $25,000 if used."
- protomyth 11y agoI know people who aren't excessively wealthy that do that. I think its a tax thing for them, plus they put a lot of miles on the car each year.