WATCH NEXT (UPDATE 2023): https://www.youtube.com/watch?vwV_q1Ie6ApY

As licensed CPAs who study the tax code, and business owners who use this exact tax strategy, we want to give you the best information on how to depreciate your car.

Specifically, you will learn:

Cars that we write off: (0:00)
Rule #1 Business Goal: (1:40)
Rule #2 Business Travel: (2:25)
Step 1) Business use %: (4:30)
Step 2) Choose the deduction method for motor vehicle tax: (5:00)
Standard mileage method: (5:14)
Actual cost method: (5:44)
Eligible vehicle costs: (6:22)
Types of vehicle depreciation: (7:19)
IRS depreciation limits: (8:20)
Sec. 179 loophole to deduct 100%: (8:48)

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Disclaimer: The information in this video is for informational purposes only and is not intended to be a substitute for professional legal, accounting, or financial advice. If you have any legal questions about this video or the topics discussed, or any other legal matter, you should consult an attorney or tax professional in your jurisdiction (i.e., where you live).

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