I have a sole proprietorship in the state of California, Small business, no employees. I have purchased 2 vehicles strictly for company use. I have been told by a CPA that I can write off the full purchase price of each vehicle. One of them I bought last year and did not claim it then because another CPA was worried about it causing an audit. This year I want to claim both vehicles at the full purchase price. Does anyone have any suggestions? Possible Audit? Any experience with this?
My business is 2 years old and is not my primary income, I did it mainly for tax purposes in the begining and will make a small profit this year. Claimimg these vehicle will show a huge loss. Any input is welcomed.
2006-10-24
06:50:12
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9 answers
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asked by
PSI
2
in
United States