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Can my client take economic stimulus - special 100% depreciation on Mercedes Benz G63 purchased for $332,500? This vehicle is used 100% for business

ajit
Level 1
The vehicle is purchased in S- Corporation name and is used 100% for business
0 Cheers
12 Comments 12
IRonMaN
Level 15

Really?  Someone buys a $332,500 vehicle and never, ever drives it for personal use? My curiosity got the best of me again so I have to ask, what kind of business does your client own?


Slava Ukraini!
BobKamman
Level 15



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Just-Lisa-Now-
Level 15
Level 15

I had to go look and see what a 330k vehicle looks like....looks like he overpaid!  LOL


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
abctax55
Level 15

And at the risk of being called rude, if one can afford that vehicle, one should be able to afford a tax pro that would already know the answer without relying on answers from anonymous folks on a public forum. 

I do think I want one tho, it looks like it would be great in the snow.

 

"Tax software is no substitute for a professional tax preparer"
PATAX
Level 15

Did I or did I not learn in one of my accounting classes or tax classes that an expense had to be necessary and/or ordinary? Just asking.

IRonMaN
Level 15

That's kinda why I was asking about the type of business.  If he is an agent for professional athletes, maybe he has to drive flashy vehicles to impress his clients.  If he owns a local McDonalds franchise, maybe a little more difficult to prove that it is necessary and that all of the miles are business.


Slava Ukraini!
PATAX
Level 15

Yeah if that client is an Amish farmer then I would think he may want to trade that Mercedes in for a black buggy and a horse.

abctax55
Level 15

I just looked at the base price $ 180,000.... what do you ADD to get to $ 330,000 ???

"Tax software is no substitute for a professional tax preparer"
IRonMaN
Level 15

For the extra money they throw in an ashtray and a water bottle holder.


Slava Ukraini!
BobKamman
Level 15
sjrcpa
Level 15

Fine Corinthian Leather?


Ex-AllStar
IRonMaN
Level 15

For that price, I could buy 10 Ford Mavericks.  Maybe I'll save a few bucks and just buy 7 - one for each day of the week.  And to be honest, the Mavericks are better looking than that thing.


Slava Ukraini!