Thinking of selling or trading in your business vehicle?
Then pay attention because you may be able to save yourself a bundle.
You see, when you sell or trade in your vehicle, one of two things is produced … a taxable gain or a deductible loss. And how you handle your gain or loss has real tax implications.
Want to learn how you can get the best tax deduction available from Uncle Sam? Read my new article titled Tips for Best Tax Result on Vehicle Disposition.
Three ways our fact-filled article can help you:
- We’ll show you how to plan wisely. It’s very important to understand how gains and losses are created before you dispose of your vehicle. We’ll provide you with all the information you need when you read the full article.
- We’ll explain the six steps you need to take to come out a winner. It’s all here in one place. Everything from finding your “adjusted basis” to calculating personal gain or loss. All will be explained when you read the full article.
- You’ll learn what to do if you used Section 179 expensing and/or bonus depreciation in prior years. Good news! If you do have taxable gains on your sale, we’ll show you how to defer taxes. We’ll provide full explanation when you read the full article.