Fix and Flip - Section 179 - Auto Purchase 6,000-14,000 GWVR

[Shawn Regnier]

I'm a realtor who is currently finishing my first fix and flip with a business partner through our LLC that we formed from each of our individual Corporations. I've been pouring through articles on this topic, but am not getting my questions fully answered (they probably are answered, but I'm not fully getting it).

Bought a house to flip in 2021, and will (hopefully) sell it in 2021. Projected gross profit after renovation and holding cost expenses is $100k ($50k will flow into each of our individual Corps).

I need a new work vehicle, because lease ended a few months ago, and heard about a loophole to deduct certain vehicles weighing 6,000-14,000 GWVR (I won't list them all here).

Will my vehicle purchase reduce the taxes on the $50k, and I'd have to pay taxes on what's left, or do you not get to be cute with it, and taxes come right our of the house flip beforehand? Maybe I'm confusing this with bonus depreciation.

I also thought I read that I would need to purchase the vehicle before the flip was sold (recorded).

One other question, I generally lease and write off my lease. I also read that you can also write off the entire amount of a lease and it will realize the entire purchase? 

Would I need to use Bonus Depreciation to make this all work?

I know most answers will be "ask your CPA or hire one." I was hoping to vet some CPA's at BPCON21, but didn't bump into any. I'll be reaching out to some shortly, but figured I'd ask my questions here anyway.

Thanks in advance.