December 31 is approaching fast. Which means you have to act now if you want to dramatically lower your tax bill.
That’s right…
If you act by year’s end, you can claim some hefty deductions on business and personals cars, SUVs, trucks, and vans.
We won’t steer you wrong. You’ll get all the important details when you read my new article titled Tax Tips: 2015 Last-Minute Year-End Tax Deductions for Existing Vehicles.
Three ways our fact-filled article can help you:
- You’ll learn why it may make sense to sell your youngster’s car. If you thinking that you will sell your old business vehicle, the one your child is driving now, consider selling it by December 31. It can provide a nice tax deduction for you as you’ll learn when you read the full article.
- We’ll tell you why you should consider replacing your vehicle now. Making this decision depends on whether the sale will produce a taxable gain or loss. We’ll explain how to make the right decision when you read the full article.
- You’ll learn why NOT trading in your vehicle can create a big deduction. Regardless of whether you use the IRS mileage rates or the actual-expense method for deducting your business vehicles, you can come out a winner. All will be explained when you read the full article.