On average what effect does writing off a vehicle for buissness purposes have.?

Question

for instance, if my wife buys a vehicle for 28k and is for her daycare use, what cost effect will i be looking at by using it as a company car

Answer 1

First of all you need to keep track of the business miles versus personal miles because they will only let you deduct business miles. Then you can depreciate the cost (business percentage only) over the official life span of the car and deduct that as a business expense each year.

Answer 2

You can write if off since you use it for business. It will lower your taxable income. In other words, you will pay less taxes. You can also write off any maintenance like tires and oil changes. Also mileage.
If she uses a cell phone for work. Write that off too.

Answer 3

We bought a Ford F150 for our small business, and really, it didn't make much of a difference in our taxes, and that included all the gas reciepts, and maintenance as well.