Can you write off a car purchase on your taxes
Undeniably welcome news to SMEs, the instant $20,000 tax write-off is even sweeter when you understand it includes motor vehicles in its scope. If your car costs less than $20,000, you can use the tax write-off to claim tax deductions the right away.
The $20,000 tax break allows small businesses to claim an immediate tax deduction for all assets acquired for business use. The assets that are subject to the deduction includes any equipment and could even include motor vehicles.
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