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Old 02-16-2013, 01:17 PM   #31
Jeeper
 
Join Date: Feb 2013
Location: NE, OH
Posts: 33
Quote:
Originally Posted by NFRs2000NYC View Post
One last comment....I notice you said this will be a business vehicle...if you are going to write it off on your taxes, it may make sense to get the AEV package. You can write the car off, but wont be able to write the mods off later.

After looking into it this may just be the case "paper trial" that I will have to handle and would be a ton more if I started upgrading a company vehicle on and off. I think the IRS would pull some "red flags" and call it BS. I would imagine needing to document why I needed such purchases even if I tried to write it off. It would be cleaner to go with the turn-key package from AEV.

After listening to you folks, doing more research and talking to my accountant. It appears to be a better route to get everything done now and not later. If this was a personal purchase I would have a little more fun and build it slow.

Thanks for your comments they were helpful on my research!

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Old 02-16-2013, 01:35 PM   #32
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I write of mods on my Jeep and GMC 2500 HD diesel as auto parts? Is there a problem with that?

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Old 02-17-2013, 12:45 AM   #33
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Originally Posted by coalpines View Post
I write of mods on my Jeep and GMC 2500 HD diesel as auto parts? Is there a problem with that?
I would ask your accountant because I know depending on your situation it could be different. Like if you own farm equipment and it's used 100% towards your business and can't be used for any other reason but business then it could but deducted at a full rate. But, if something like a road vehicle and it can be used for personal reasons you get into a gray area on what you can deduct % wise. Like is it better to deduct miles or the cost of the vehicle depending on miles you put on. Just to make sure you cover your arse I would verify what you can deduct and your options. I know this may not be much help but it's kind of confusing. So I would check with your accountant to make sure if your golden on how you deduct.

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