What if I told you, how you can write off your dream car in 2023, tax free... AND the business tax code was actually setup to help write off your dream car.

Book a Tax Services Discovery Call: https://schedule.lyfetaxes.com/discov...

AND global companies around the world take advantage of this by providing cars from their executives and employees.

Crazy right? In this video, let me show you how you can write off your dream car this year. Must watch the entire video!

UPDATE: When it comes to Section 179, there is a $25,000 cap for all other “heavy” vehicles like the GWagon mentioned. To take the full accelerated depreciation you must have a vehicle that is described as a passenger van, utility truck or utility van.

Subscribe: https://bit.ly/2HJlq46

Outline for How To Write Off Car in 2023:

Intro to Writing off a Car for taxes: (0:00)
What is Standard Mileage Rate: (1:30)
Actual Expense Vehicle Tax Deduction: (2:49)
Which One Should You Choose?: (4:00)
How to Use Standard Mileage Rate Deduction: (5:45)
How to use actual expense deduction: (6:15)
Accelerated vehicle depreciation: (7:23)
Car Depreciation recapture: (9:22)
Bonus tips: (10:07)

Suggested Video to Watch Next:
10 Tax Write Offs You’re Probably Missing    • 10 Tax Write Offs Your Accountant is ...  

More Popular Uploads:
5 Grants to Start a Small Business:    • 5 Grants to Start a Small Business (f...  
Single Member LLC, What You Must Know:    • Single Member LLC: What You Need to K...  
Tax Planning for Beginners:    • How to Build a Tax Plan (Tax Planning...  
Tax Secrets:    • Tax Secrets: What “They" Don’t Want Y...  
How to Start a Business:    • How to Start a Business in 2024: Your...  

If you find any value, please subscribe and like for the YouTube algorithm. Thanks for your support :)