The clock is ticking and soon it will be 2014.
This means that if you’re thinking about buying or selling a business vehicle, you better get moving!
You see, to take advantage of all the tax deductions coming to you, you have to own the vehicle and place it in service before midnight, December, 31.
Want to learn how to use 10 last-minute 2013 tax deductions by buying and selling business cars, SUVs, trucks, vans, and motor homes before the end of 2013? Read my new article titled Tax Tips: 10 Last-Minute Tax Deductions for Business Vehicles.
Three ways our fact-filled article can help you:
- We’ll show you the right way to deduct your personal vehicle. Are you or your spouse driving a personal vehicle? Did you buy that vehicle new? If the answer’s “yes,” consider converting that personal vehicle to business use by year’s end to qualify it for a 50% bonus depreciation, even if you bought it last year. All will be explained when you read the full article.
- We’ll show you the smart way to get rid of your old vehicle. Every business vehicle you or your corporation sells gives rise to a gain or loss when you sell to a third party. We’ll provide you with a money-saving strategy you personally or your corporation can use when you read the full article.
- You’ll learn why now’s the time to buy that new SUV or crossover vehicle. Go ahead! Act now and buy (and place in service) a new SUV or crossover vehicle that the manufacturer classifies as a truck. (Just make sure it has a GVWR of 6,001 pounds or more.) By making this purchase you get three huge benefits. We’ll tell you what they are when you read the full article.