cfsandiego
Member
A quick update is that the camper is fully legally imported, titled, and registered into the US at this time.
A quick update is that the camper is fully legally imported, titled, and registered into the US at this time. View attachment 718622
You can put on the bill of sale that you paid $20k for the truck, and that's the taxable amount.. ALSO! this is cool, if you buy it though your business, and the truck is over 6000lbs GVWR, you can write off 100% of its value up to $100,000 immediately in the first year- section 179 in the IRS tax code, baby.
How many seatbelts then for travel?
You can put on the bill of sale that you paid $20k for the truck, and that's the taxable amount.. ALSO! this is cool, if you buy it though your business, and the truck is over 6000lbs GVWR, you can write off 100% of its value up to $100,000 immediately in the first year- section 179 in the IRS tax code, baby.
To be clear only of the vehicle pertains to the expected operations of your business. Additionally since this vehicle is over 14000lbs you can easily use the bonus deduction to go negative on profit whereas the Section 179 deduction can only be used to bring profit to zero.