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65
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6
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Joe Kato
  • Real Estate Investor
  • Albion, RI
6
Votes |
65
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Best structure for vehicle costs as landlord?

Joe Kato
  • Real Estate Investor
  • Albion, RI
Posted

Have 3 rental properties, using one as Air BNB.  Use an old truck for daily home depot runs for repairs and maintenance of properties.  Also drive to Air bnb almost daily to clean unit.  Last year only wrote off mileage for trips to properties, store, city hall, etc.

Looking for the brains on this board to share ideas how to structure a vehicle purchase/lease for a write off for my business. Real estate investing is a side business, no LLC or partners outside spouse and myself. 2015 tax reported >$20K income on schedule E. How can I best get a newer truck for business use. Whether lease, buy, new or used, what is best way to save money?

thanks