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Updated about 2 years ago,
Section 179 Write Off (Vehicle over 6,000 pounds)
How can I take advantage of this write-off?
Some background information on my situation. I recently set up an LLC for the purpose of transferring my rental properties to it. Currently, my personal residence and investment property is under my personal name. I'm looking into purchasing a pick-up that is over 6 thousand pounds. It will be used for both personal use and managing my property. What do I need to do to take advantage of this write-off? Here are a couple questions?
- Do I need to purchase the vehicle under my LLC name?
- Do I need to purchase commercial vehicle insurance?
Am I thinking this is too good to be true, or is this actually viable?