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Updated over 7 years ago,
Need Advice... Buying a vehicle as a business expense
Hey folks -
Would love to hear from those who own vehicles that are considered business expenses. Jumping from 1 to 5 units soon and I will be buying a used truck to have on hand for building materials, appliances, etc.
What are some things to consider? Any major tax implications? Can I even consider a vehicle a business expense if I'm not considered a real estate professional via the IRS? What if I use the vehicle for business and personal reasons?
Hope I can get the basics!
Much thanks!
Pete