Writing Off My Car for Tax?

jordan · 07-12-2006

I reside in NC but work in CA. I currently use buses and cabs for transportation. I could bring my car here but the expense would be greater. I am wondering though if I am missing out on a great tax deduction though by not writing off my auto and expenses. Anyone have advice?
Thanks
Jordan

Darth51 · 07-13-2006

You can only write it off if you are using it for work, eg to visit clients.
If you are just using it to get to and from your employer, then you cant write it off on tax unfortunately.

Dana · 07-19-2006

I'm not a tax law expert (my disclaimer) but if you can claim expenses for your bus and taxi rides through your employer or through tax deductions that may be more cost effective for you than taking your own automobile.
If your company provided you with a company car, they would have tax advantages and that would save you wear and tear on your own vehicle but you wouldn't be insured to take other passengers in the vehicle in most cases so it would have to be used strictly for work purposes only.
If your company expects you to use your own vehicle for work purposes they typically provide a car allowance or mileage allowance for you. This is something they generally stipulate in your employment contract though and usually does not apply to commuting to and from work (more when you are expected to travel for work).
Hope that helps,
Dana

imehesz · 07-20-2006

Does anybody know about hybrid cars and TAX? I heard if you have a hybrid you can get some money back or something... i'm not sure though...

thanx,

Dana · 07-21-2006

I know where I live in Ontario, Canada we get government rebates for using energy efficient appliances by submitting our receipts.

I found this article on Wired.com about tax breaks for Hybrid owners in the U.S.
http://www.wired.com/news/autotech/0,2554,69099,00.html

My advice for any business or person is to get yourself a really smart accountant :)

imehesz · 07-28-2006

thank you Dana, it helped :)

iM

Quote:

Originally Posted by Dana

I know where I live in Ontario, Canada we get government rebates for using energy efficient appliances by submitting our receipts.

I found this article on Wired.com about tax breaks for Hybrid owners in the U.S.
http://www.wired.com/news/autotech/0,2554,69099,00.html

My advice for any business or person is to get yourself a really smart accountant :)

FrancisTheFool · 07-31-2006

Yea only if you are using for work.

07-12-2006	#1 (permalink)
jordan Member Join Date: Jul 2006 Age: 44 Posts: 31	Writing Off My Car for Tax? I reside in NC but work in CA. I currently use buses and cabs for transportation. I could bring my car here but the expense would be greater. I am wondering though if I am missing out on a great tax deduction though by not writing off my auto and expenses. Anyone have advice? Thanks Jordan

07-19-2006	#3 (permalink)
Dana Senior Member Join Date: Jul 2006 Location: Ontario, Canada Posts: 1,198	Re: Writing Off My Car for Tax? I'm not a tax law expert (my disclaimer) but if you can claim expenses for your bus and taxi rides through your employer or through tax deductions that may be more cost effective for you than taking your own automobile. If your company provided you with a company car, they would have tax advantages and that would save you wear and tear on your own vehicle but you wouldn't be insured to take other passengers in the vehicle in most cases so it would have to be used strictly for work purposes only. If your company expects you to use your own vehicle for work purposes they typically provide a car allowance or mileage allowance for you. This is something they generally stipulate in your employment contract though and usually does not apply to commuting to and from work (more when you are expected to travel for work). Hope that helps, Dana

07-20-2006	#4 (permalink)
imehesz Senior Member Join Date: Jul 2006 Age: 30 Posts: 258	Re: Writing Off My Car for Tax? Does anybody know about hybrid cars and TAX? I heard if you have a hybrid you can get some money back or something... i'm not sure though... thanx, __________________ -- iM

07-21-2006	#5 (permalink)
Dana Senior Member Join Date: Jul 2006 Location: Ontario, Canada Posts: 1,198	Re: Writing Off My Car for Tax? I know where I live in Ontario, Canada we get government rebates for using energy efficient appliances by submitting our receipts. I found this article on Wired.com about tax breaks for Hybrid owners in the U.S. http://www.wired.com/news/autotech/0,2554,69099,00.html My advice for any business or person is to get yourself a really smart accountant :)

07-31-2006	#7 (permalink)
FrancisTheFool Member Join Date: Jul 2006 Age: 23 Posts: 55	Re: Writing Off My Car for Tax? Yea only if you are using for work.

07-13-2006	#2 (permalink)
Darth51 Junior Member Join Date: Jul 2006 Age: 28 Posts: 10	You can only write it off if you are using it for work, eg to visit clients. If you are just using it to get to and from your employer, then you cant write it off on tax unfortunately.

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Writing Services	articlewriter	Services	12	05-30-2007 11:27 AM
Content Writing Service.	kibeth	Content	4	03-23-2007 07:00 PM
Writing Services	kconnections	General Business Issues	4	10-04-2006 05:25 PM
Two questions on die{} and writing error to file	samuel	Perl	0	07-27-2006 05:04 PM
Writing Slurped Data Fails	jeremiah	Website Design	1	07-06-2006 02:54 AM

	All times are GMT. The time now is 01:03 AM.
	Contact Us - preCharge.Net - Archive - Privacy Statement - Top