Feb 4 โข Tax Tips = Free Social Posts
๐ฉบ Can I write off my car? Ask the Tax Doctor | Dr. Geno
๐ Short Answer: Yes โ but you need a plan.
There are several IRS-approved methods to deduct vehicle expenses, and once you choose a method, there are rules you must follow going forward.
๐ The Main Methods Explained
๐ Mileage Method
โ๏ธ Easy and quick
โ๏ธ No commitment to one specific vehicle
โ๏ธ No depreciation recapture issues later
โ๏ธ Clean when you sell or trade the vehicle
โ Requires good mileage logs
๐งพ Actual Expenses / Depreciation
Deduction is spread over multiple years
Includes gas, insurance, repairs, depreciation
Requires strong documentation
Business-use percentage matters every year
๐ฅ Section 179 + Bonus Depreciation
Can create huge write-offs upfront
Great for high-profit years
โ ๏ธ Leaves minimal deductions in future years
โ ๏ธ Can trigger recapture if business use drops or the vehicle is sold
Best used strategically, not emotionally
๐ฉบ Dr. Genoโs Take:
The question isnโt โCan I write it off?โ The real question is which method fits your income, profits, and long-term plan.
What helps one year can hurt the next if itโs not planned correctly.
This is tax strategy, not just tax prep.
๐ Call or Text: (813) 462-2758 ๐
Schedule a FREE video consultation: ๐ www.GenoBradley.com
Ask the Tax Doctor. Go with a Pro. GBC Tax Pros.
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๐ฉบ Can I write off my car? Ask the Tax Doctor | Dr. Geno
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