Tesla unveil Semi, new Roadster, & also teased a "pickup truck"

[cooper barrett]

Originally Posted by notorious

New vehicle purchases are hugely advantageous to a business owner.

I save a shitload in tax money, and over the 2-3 year life of owning it will be damn near the same cost as buying used only without the headaches.

Give me an electric pickup that has the same torque and range as a diesel and I'm game.

I haven't done a company vehicle for quite some time, I write off the mileage or take expenses, I get the same mileage write on a used vehicle as a new one and unless something has changed, expenses are done the same on used also.

What's the benefit of buying new and trading it in to be able to write another one off.

I know you're in a service business so 95% of your miles are expensed...

I always had a work truck and a business car, business car was almost always a 2 year old AMG thus not taking the depreciation hit while still under a MB service policy.

[Buehler445]

Originally Posted by cooper barrett

I haven't done a company vehicle for quite some time, I write off the mileage or take expenses, I get the same mileage write on a used vehicle as a new one and unless something has changed, expenses are done the same on used also.

What's the benefit of buying new and trading it in to be able to write another one off.

I know you're in a service business so 95% of your miles are expensed...

I always had a work truck and a business car, business car was almost always a 2 year old AMG thus not taking the depreciation hit while still under a MB service policy.

He’s probably referring to bonus depreciation that you don’t get with used. That would benefit him if he doesn’t keep it for the 5 year life.

I’m on the other end. My position is industry standard is the business provides agronomists and managers a vehicle that they also drive to and from work. So I’m taking 100% of the bastard and the corporation pays repairs. I’m not dicking around with mileage logs, percentages, allocations, goddamned cluster**** rocket science equations to calculate a couple thousand dollars gain when you trade the ****er off.

Not this ****ing guy. Corporation owns the pickup per industry standard. No sense making something simple complicated to the sake of the IRS.

[cooper barrett]

It does not have to be new to take "section 179" as long as its a HD truck and is used 50% for business. Bonus is only for new but you would have to be buying a small SUV to capture it. On a small truck/ suv the 179 is capped at 25K and bonus on a new vs used would be $10K Trucks over 6Klbs are 100% write off new or used.

Originally Posted by Buehler445

He’s probably referring to bonus depreciation that you don’t get with used. That would benefit him if he doesn’t keep it for the 5 year life.

I’m on the other end. My position is industry standard is the business provides agronomists and managers a vehicle that they also drive to and from work. So I’m taking 100% of the bastard and the corporation pays repairs. I’m not dicking around with mileage logs, percentages, allocations, goddamned cluster**** rocket science equations to calculate a couple thousand dollars gain when you trade the ****er off.

Not this ****ing guy. Corporation owns the pickup per industry standard. No sense making something simple complicated to the sake of the IRS.

[Buehler445]

Originally Posted by cooper barrett

It does not have to be new to take "section 179" as long as its a HD truck and is used 50% for business. Bonus is only for new but you would have to be buying a small SUV to capture it. On a small truck/ suv the 179 is capped at 25K and bonus on a new vs used would be $10K Trucks over 6Klbs are 100% write off new or used.

Bonus depreciation is different than 179.

I’m not going to speak to notorious’ tax planning but you asked the difference between new and used and bonus depreciation is the difference.

[cooper barrett]

Originally Posted by Buehler445

Bonus depreciation is different than 179.

I’m not going to speak to notorious’ tax planning but you asked the difference between new and used and bonus depreciation is the difference.

TY

I need to look at section 179 and bonus together for equipment vehicles,