I bought a 2007 Toyota tacoma...do you get a tax write-off for buying a new car?
2007-02-16 12:12:43 · 7 answers · asked by candicen83 1 in Cars & Transportation ➔ Buying & Selling
The answers above are correct. Unless you use it for business or the vehicle is a "qualifying alternative fuel vehicle" e.g. hybrid, which your Tacoma is not, you won't qualify for a tax-deduction or write-off.
Sorry to say
2007-02-17 00:44:16 · answer #1 · answered by wnyken 3 · 0⤊ 0⤋
You can get a tax write off on new and used vehicles providing that it is used for business (This does not mean travel to and from work).
Work related would be a sales person that is require by his company to visits customers etc..
2007-02-16 20:32:42 · answer #2 · answered by Johnny 5 · 0⤊ 0⤋
If you use it for business. Also, if your state doesn't collect income tax you can write off the sales tax on the purchase for your federal income tax
2007-02-16 20:19:22 · answer #3 · answered by Confused 3 · 0⤊ 0⤋
No.... unless you have a business or something.
I heard of small business owners buying Hummers and writing it off due to a loophole but not small trucks.
2007-02-16 20:20:05 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Nope.
Only for home purchases can you write off the tax.
Our country no longer rewards consumption of consumer goods. Haven't you heard of global warming?
2007-02-16 21:24:09 · answer #5 · answered by nora22000 7 · 0⤊ 0⤋
nope, unless you can show it as a business expense.
2007-02-16 20:18:53 · answer #6 · answered by Evan B 3 · 0⤊ 0⤋
not unless you own a business.
2007-02-16 20:17:06 · answer #7 · answered by mister ss 7 · 0⤊ 0⤋