04-05-2005, 01:25 PM | #1 (permalink) |
Join Date: Dec 29 2004 Location: MA
Posts: 190
Rep Power: 20 | My car is dying and I'm thinking about leasing (new) or purchasing (used) a truck through my salon. Does anybody here currently write off their vehicle or lease payments under the business? I was in Florida last year and saw a nice white H2 Hummer and another huge pick-up with some salon advertising all over it... I want to do the same. Lease a vehicle and use the magnet signage (no paint because of lease)... or buy and paint. Any suggestion or warnings I should be aware of? Thanks. |
04-05-2005, 01:34 PM | #3 (permalink) |
Join Date: Mar 7 2005
Posts: 395
Rep Power: 24 | With me, leasing and deacling is def the way to go.....we got HUGE , HUGE business that way. Why the Hummer?? Totally go in budget..in fact go BELOW budget. Lots of "big"vehicles for advertising...also where I am if I was driving that here, people would puropsely stay away...weird i know.. Total write off here... |
04-05-2005, 01:40 PM | #4 (permalink) |
Join Date: Dec 29 2004 Location: MA
Posts: 190
Rep Power: 20 | No... no! Believe me I can't afford an H2, salon biz is not that prosperous. I was just stating I saw a H2 with salon advertising painted on it. So someone out there is doing well. I actually want a pick-up to haul bulbs away...etc. But I also want to drive around with our salon advertised... but not slapped on my piece of junk |
04-05-2005, 01:48 PM | #5 (permalink) |
Join Date: Mar 7 2005
Posts: 395
Rep Power: 24 | hmmmmm, suv's are the way to go OR a capped truck...Ireally had a hard time finding something when i was leasing... optimize with a great color....ours is soo bright and works great.. I can't believe othere don't to this, it's a moving billboard, less $$$ I'm sure gov't leg will soon take it awy from us...ha |
04-05-2005, 01:54 PM | #6 (permalink) |
Join Date: Dec 29 2004 Location: MA
Posts: 190
Rep Power: 20 | From irs.gov Advertising display on car. Putting display material that advertises your business on your car does not change the use of your car from personal use to business use. If you use this car for commuting or other personal uses, you still cannot deduct your expenses for those uses. Hauling tools or instruments. Hauling tools or instruments in your car while commuting to and from work does not make your car expenses deductible. However, you can deduct any additional costs you have for hauling tools or instruments (such as for renting a trailer you tow with your car). |
04-05-2005, 07:41 PM | #8 (permalink) |
Join Date: Dec 4 2004 Location: NJ
Posts: 136
Rep Power: 20 | For the past 8 years we have leased my car through the business. We wrote off everything for the car. But then the accountant took care of that. I got screwed with miles on this last lease. Now we purchased again through the business. We can still write off and then take depreciation ect... I used to believe in leasing but now after owing so much for miles for get it. Buy the car, yes, I wrote of extra cost of milage, but it was the principle of paying for milage. Now that I own who cares how many miles. I even went the extra 15,000 a year vs. 12,000 a year. Be very careful with a lease! |
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