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Updated over 4 years ago on . Most recent reply

User Stats

3
Posts
0
Votes
RJ K.
  • Investor
  • Tampa, FL
0
Votes |
3
Posts

Heavy Truck/SUV first year full bonus tax deduction

RJ K.
  • Investor
  • Tampa, FL
Posted

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.

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