How To Completely Write-Off A Car For Your Business #shorts

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*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

#taxes #taxfreeliving #taxexpert #taxreduction #llc

[Tauchp]

I have mad respect for people that work with taxes. As soon as I hear "tax" my brain is already having a picnic somewhere. I don't know how they do it

[benjamingreen]

Tax strategy is like extreme couponing 😂

[tylercoburn]

There is a $20, 200 limit for yr 1 automobile depreciation (write-off). The vehicle must weigh over 6, 000 lbs to be exempt from this “luxury vehicle limitation”

[broderickcamel]

Man you got a course with all this info in it?

[jseels]

It’s crazy they are phasing this tax code out... as It allows you to buy a new truck each year and use the bonus depreciation each time. It makes purchasing a new truck viable each year for the tax advantage.

[hlb]

To lease through my LLC or buy the car through my LLC - THAT is the question.

[coachdelgado]

I wanna try this but I don’t wanna end up like Wesley snipes

[nianaberwick]

Doesn’t the vehicle have to weigh around 6, 000 lbs? That doesn’t apply to a standard vehicle

[Perez]

Are these codes specific to the state or are they federal

[bryansmith]

Bonus depreciation is being phased out by 2027. Goes as follows…
2023: 80% deduction
2024: 60% ded.
2025: 40% ded.
…and so on until 2027.
If you want to take advantage, do it sooner than later.

[JW-tksr]

And by doing that year 1 you waive your write to deduct the standard mileage rate for life is the vehicle.

[cxpablox]

Bro once I’m a billionaire I hope you handle my taxes 💪

[andrewcampbell]

What are the stipulations for Section 179 ??
Bonus Depreciation??

[davidcollazo]

When do we start adding Robinhood transactions to taxes? Is it only when you withdraw earnings?

[jseels]

Can you still write off depreciation for the vehicle the year after?

[poohmissU]

Does the car have to be purchased new or can it be a used car?

[bennsellingit]

thank you sir for this information.. question.. Can this be done with two or possibly three vehicles if they're all related to the business simultaneously or is it restricted to 1.. thank you for your response

[ItsYaBoy]

Can I speak with you about setting up my LLC?

[jLvaughan]

Does this apply to a sole proprietorship? Or is it just for LLCs?

[rizalynwatkins]

Hello Karlton code 179 can we still claim that for we are in audit for 2018???please help!!! We are in California is that matter???