The TRUTH about writing off a 6000+ lb vehicle

What app is that at the end of the video where you can check off expenses?

So not free just half off

What if you have an online store and you add your Brand on the car, is that now 100%

Addison just remember it’s not about you it’s always about the information

We use it

Wow you sure did get me Addison but great math

Now we need to know what the difference is, between a deduction and a credit 😵‍💫

Key point! Tax write off literally means you reduce your tax liability by the % you would’ve paid with that thing you’re writing off.. so if it’s 70k you’re not 70k tax free now… it’s 19% (in the uk) corporation tax so you would’ve saved 19% of 70k which is 13,300 so you’re still spending like 56,700 out your pocket .. we need to find out all the tax credits lol

If the IRS really knocked on people’s doors they would all be dead by now lol. That’s also why they only do mail and no phone calls. They would all be so verbally abused and threatened they wouldn’t have any irs workers lol.

Your still paying for the car tho. Your just saving some income tax. So yeah ide rather buy a car than give it to the government. But it’s not free by any means. Just a way to say “ope I spent the money so you can’t take it bitches” lol.

chat not overreacting about lisa challenge

Useless video…..

But if you’re a W-2 and have an LLC. What income would be lowered? Just the LLC’s income? Or your total income, or even if you’re like a single employee company

What’s the easiest business I can start for one lol

Lol she right but she’s also wrong-You can leverage 179 Duduction and bonus depreciation 😮

Really appreciate this video hun but I'm curious to know what's best for a business vehicle finance or Lease .....

I use my g wagon for 100% work purposes, everything I do is work. So per your explanation i get to write off the whole car.

Finally someone who understands this deduction and doesn't mislead a bunch of millennial morons into a bad decision.

Can you give a example of like say a 60,000k truck. With a write off. If it lowers the amount that your taxes of does that mean that you just get back more during Tex season?