Do you have two or more cars in your household?
If your circumstances are right, we might find a hefty increase in deductions for you with the two-car strategy.
If this strategy works for you, you don’t have to drive one mile farther. You don’t have to spend one additional penny. All you need are the right circumstances and a desire to increase your tax deductions (which I know you have).
If you have two or more vehicles in your household, let’s have a short phone conversation on this strategy. To ensure that we have a conclusive conversation, please have the following information for the vehicles in front of you when we talk:
- Business miles for each vehicle
- Total miles for each vehicle
- Cost of each vehicle (you can estimate this)
- Estimated sales proceeds when you plan to sell the vehicle
That’s it. With the above numbers, I can spend a few minutes with you and a formula I have that will show us the approximate dollar benefit or detriment you would have by using two vehicles in your business.
Please give us a call, and we will set this up at a convenient time for you.
Tax professional standards statement
This content supports Bolko & Associates’ marketing of professional services and is not written tax advice directed at the particular facts and circumstances of any person. If you are interested in the topics presented herein, we encourage you to contact us or an independent tax professional to discuss their potential application to your particular situation. Nothing herein shall be construed as imposing a limitation on any person from disclosing the tax treatment or tax structure of any matter addressed herein. To the extent this content may be considered to contain written tax advice, any written advice contained in, forwarded with or attached to this content is not intended by Bolko & Associates to be used, and cannot be used, by any person for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code.
The information contained herein is general in nature and is based on authorities that are subject to change. It is not, and should not be construed as, accounting, legal or tax advice provided by Bolko & Associates, LLC to the reader. This material may not be applicable to, or suitable for, the reader’s specific circumstances or needs and may require consideration of tax and nontax factors not described herein. Contact Bolko & Associates LLC or other tax professionals prior to taking any action based upon this information. Changes in tax laws or other factors could affect, on a prospective or retroactive basis, the information contained herein; Bolko & Associates LLC assumes no obligation to inform the reader of any such changes. All references to “Section,” “Sec.,” or “§” refer to the Internal Revenue Code of 1986, as amended.