Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal


Real Estate Classifieds
Reviews & Feedback
Updated over 4 years ago on . Most recent reply
Heavy Truck/SUV first year full bonus tax deduction
I am a landlord with 26 units. I've sold a few of my properties and now will have a larger income. I am thinking about buying an SUV over 6,000 gvwr in hopes of lowering my taxable income using the first year bonus.
I have a w2 job where i work from home 100% of the time. I also have separate 1099 income, which is not much. I thought about buying it under the 1099 job but since the income is low, figured that would not make sense to buy a 70k suv.
My question is:
Would i need to buy the new vehicle under my LLC or can i buy under my name
Do you see any problems/concerns with using this benefit as a landlord?
Do i need to pay cash or am i able to finance ?
Do i need to buy new from a dealer?
Thanks in advance for any feedback.