-43andharsh@alien.topB to Electric Vehicles@gearhead.townEnglish · 10 months agoChevrolet Silverado EV, anyone going for one?message-squaremessage-square50fedilinkarrow-up11arrow-down10file-text
arrow-up11arrow-down1message-squareChevrolet Silverado EV, anyone going for one?-43andharsh@alien.topB to Electric Vehicles@gearhead.townEnglish · 10 months agomessage-square50fedilinkfile-text
minus-squarejmcdono362@alien.topBlinkfedilinkEnglisharrow-up1·10 months agoIf a contractor bought the $100K RST version, can he/she write off the entire truck if it is used to get from one job to the next? This is of course assuming the contractor has at least $100K of tax obligations.
minus-squareNeuroDawg@alien.topBlinkfedilinkEnglisharrow-up1·10 months agoThat’s not how tax “write-offs” work. Doesn’t offset tax obligations. It’s an expense, used to calculate profits. You then pay tax on the profits.
minus-squarejghall00@alien.topBlinkfedilinkEnglisharrow-up1·10 months agoYou’re conflating deductions and credits. I suggest you research the the difference and read into bonus depreciation as well.
If a contractor bought the $100K RST version, can he/she write off the entire truck if it is used to get from one job to the next? This is of course assuming the contractor has at least $100K of tax obligations.
That’s not how tax “write-offs” work. Doesn’t offset tax obligations. It’s an expense, used to calculate profits. You then pay tax on the profits.
You’re conflating deductions and credits. I suggest you research the the difference and read into bonus depreciation as well.