January 28, 2008, 2:17 pm
Can I write off my Lexus?
This entrepreneur wants to write off his Lexus RX300. What vehicles do you write off as a business expense? How are you able to prove your vehicles are for business?
Your Answers
From Kristian Harcourt, Las Vegas NV If you have a 2nd vehicle (for your own exclusive use and not your spouse's car), then 100% of the costs of ownership, operation and depreciation allowance can be claimed. One vehicle is for business. The other is for personal use.
Posted By Kristian Harcourt, Las Vegas NV : January 28, 2008 6:27 pm
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Must this second vehicle be leased or may I buy as well? I will have a small call for pursonal use and want to buy/lease a new or used truck for business only.