2007-07-26 03:20:00 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
I personally would suggest buying it after if that is an option, just to help keep it "clean". But if you need a car now, then buy it now, you will still be able to deduct the business mileage and possibly depreciate the car.
2007-07-26 03:28:18 · answer #1 · answered by bmwdriver11 7 · 0⤊ 0⤋
I don't think you can't write off the whole purchase, but the mileage can add up when you are new (which is tax deductible). The Realtor "deal" is when you lease a car.
Your taxes are going to be different now that you are self employed, so it is in your best interest to make contact with a CPA anyway, and he/she can advise you best.
2007-07-26 10:30:39 · answer #2 · answered by linkus86 7 · 0⤊ 0⤋
I think you can still write it off as a business expense if you had it before or after.
2007-07-26 10:26:53 · answer #3 · answered by tracey92863 2 · 0⤊ 0⤋
Makes no difference. You start to depreciate, claim expenses, or claim mileage on the day you start working in real estate.
The date on which you acquire the vehicle is not relevant. The date on which you start to use it in business is what counts.
2007-07-26 10:51:01 · answer #4 · answered by acermill 7 · 0⤊ 0⤋
You will have to buy it after to write it off.
2007-07-26 10:27:32 · answer #5 · answered by oldmanwitastick 5 · 0⤊ 0⤋