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2 Minute Tax Tip: Writing Off Auto Expenses

587 ratings | 28811 views
Entrepreneur Network partner Mark J. Kohler discusses the different ways to write off your auto expenses for your small business. Buy Mark’s Educations Products Today! Link - http://markjkohler.com/product/ Subscribe now! https://www.youtube.com/subscription_center?add_user=MarkJKohler
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Text Comments (18)
yMhD1 (1 day ago)
Hi there, great video. Does financing a car allow you to get that tax depreciation / benefits on an SUV or does it has to be purchased out right?
Tax2Me (5 days ago)
You said; “if you have repairs and maintenance on the lease, you have the wrong lease”. Can you or someone else that know what this means elaborate on it?
Humberto Gallegos (2 months ago)
I’m a teacher at a community college, would love to buy a big van to transport students and equipment, what would I be able to write off?
UnCrowdMe (3 months ago)
Great advice. Thanks a lot!!
Andres Agredo (6 months ago)
very interesting
Kwabena Ofori Amo-Mensah (7 months ago)
Depreciating older used cars - I have researched this question everywhere, and nobody seems to be saying anything specific about it. If I start doing delivery with a 12-year old family van for, say AmazonFlex, as an independent contractor/partner, I can use, say KBB value of the 12-year old van and have it as an asset on my balance sheet, yes? Let's say KBB value is $3,000, why can't I depreciate this van with a value of $3k for my business if I decide to use the direct business vehicle expense method for tax purposes, instead of the mileage method?
222222e (3 months ago)
why not call a CPA and ask them?
Fishere Jason (7 months ago)
Can I write off my 1099 interest from a bank?
Marwin Bactat (9 months ago)
Can you write of on car insurance?
222222e (3 months ago)
Why not go to IRS.Gov the same information is there also.
away withwordz (1 year ago)
Is a business required to make any money to receive these tax benefits?
Logan Crawford (6 months ago)
away withwordz same question here. If I have a rental property that generates $2000/year income and builds $10,000 in equity every year, what is the most expensive car I can get? I should mention I make 63k salary to help with the monthly payments.
Kyle Dempsey (1 year ago)
away withwordz same question I was wondering. I wonder if you have to profit(equal or more) the amount you receive in write offs..
thomasdill88 (1 year ago)
can you please contact me, 704-517-4148 Thomas
Cameryn Worden (6 months ago)
jesus christ lol
Christian Ortega (7 months ago)
thomasdill88 putting you number like that on the internet is probably not the smartest idea in the world...
Everlance (1 year ago)
Great video, if you are looking for a simple app that does all this I would recommend you check us out. No more paper mileage log and shoe box of receipts. It can all be done on an app automatically - http://everlance.com/
Camron Ra (8 months ago)
Thanks for sharing this valuable knowledge...and keeping it short & simple 👍🏾 please follow the young radical entrepreneur @legion_tech_ceo on IG. Keep up the great work!

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