Tim "The Tax Man" Thompson
Dive down the rabbit holes and wormholes of the US income tax code with us! Whether you're navigating the highway of business taxes or the byway of personal filings, we're here to light up those dark, twisty tax tunnels with a splash of humor, a sprinkle of tales, and a whole lot of tax wisdom. Gone are the days of tedious tax talk! We're spicing things up, making numbers nifty and IRS stories...well, surprisingly entertaining. From the Flake fiascos to the Martins' mysteries, we unpack it all. Subscribe now, and let's decode the tax tales together. Because when it comes to taxes, why be a Flake when you can be a Pro?
Tim "The Tax Man" Thompson
Can I Purchase a Car Through My Business?
In this episode, I discuss the tax implications of buying a car through your business. I explain the importance of the 50% rule and how it affects accelerated depreciation. I also touch on financing and insurance considerations when titling a vehicle in the name of your business. Additionally, I highlight the need for proper record-keeping and the availability of Section 179 and bonus depreciation. Watch this video to learn more about maximizing tax savings when purchasing a vehicle for your business.
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#BusinessVehicle #TaxDeductions #IRSRegulations #BusinessDecisions #VehicleInvestment