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Updated 11 months ago, 02/07/2024

User Stats

92
Posts
71
Votes
Joel Oh
71
Votes |
92
Posts

Write off luxury car under STRs?

Joel Oh
Posted

Hey guys, thinking about purchasing a car this year and wondering if it is possible to write off a luxury car for their STR expenses.

My tax advisor said that I will need to prove this car was used for the business.

I know a lot of business put their advertisement or number to write off their cars. 

Problem is, this is a bit hard for us STR owners. Is there any creative way for STRs owners to write off their vehicles?

I use Schedule C for my STR and treat them like business. I feel like if I pay 15% bonus taxes, I should be able to write off my car I drive for my business haha.

Please help me!

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