Purchasing a vehicle - how to deduct it/use bonus depreciation

[Robert Kirkley]

Hey everyone.  I will be needing to purchase a truck in the next weekend or two and plan on purchasing it and using bonus depreciation to offset my income.  The vehicle will not be over 6,000 lbs (likely a Toyota Tacoma) so I know there will be a limit on the amount of bonus depreciation I can recapture.  I do not have a business bank account/business credit card set up yet, but is that necessary to be able to purchase the vehicle and get the tax benefits when I buy it?  Do I purchase it now with money saved up in my bank account and then transfer the vehicle to be owned by my company at a later date, or does this all need to be set in place before buying?  If you have any questions on the specifics, please let me know.  I am sorry if this was unclear.