Please help with car deduction

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Cramerica
Posts: 223
Joined: Sat Oct 03, 2015 5:30 pm

Please help with car deduction

Post by Cramerica » Sat Jan 20, 2018 9:57 am

So I am planning on buying a Tesla in 2018. I will likely be eligible for the federal credit of $7500 and state credit of $2500. Since I will be using this car mainly for business purposes, I would like to write it off as a business expense using 1099 income. I am planning on taking out an auto loan with Tesla. I have read about writing off the car through a sole proprietorship, but I was hoping to hear from people with experience. Please help :confused

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