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How is driving a luxury car a legitimate business expense? The IRS should be cracking down on that fraud, and only allow deductions for the value of a basic fun
by Evbn 14y ago
How is driving a luxury car a legitimate business expense? The IRS should be cracking down on that fraud, and only allow deductions for the value of a basic functional vehicle.
- PeterisP 14y agoAs the running costs (electricity vs gas) are noticeably better, it makes much more sense to run Teslas as a business vehicles rather than consumer goods, since a business car is "on the run" much more - in essence, electric cars will be the cost-effective option in the long run rather than a luctury.
- Aloha 14y agoWhy? What makes a luxury vehicle substantively different from a small car, if anything, you would get less benefit from the depreciation on a luxury car, because they tend to be worth more used. Also, a Luxury Car, and a top of the like 3/4 ton truck are in the same price range. Also, it is for example quite legitimate to outfit your outside sales people with a nice high end vehicle, they need to drive what their customers would expect them to.
- smackfu 14y agoIf your car is legitimately used for business, I don't see why the IRS should be enforcing austerity measures.