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]

The vehicle is purchased in S- Corporation name and is used 100% for business

[IRonMaN]

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?

[BobKamman]

You’ve come to an Intuit site supporting tax professionals, and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.

[Just-Lisa-Now-]

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

[abctax55]

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.

[PATAX]

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]

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.

[PATAX]

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]

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

[IRonMaN]

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

[BobKamman]

@IRonMaN Also, 4-wheel drive

https://www.mbofpleasanton.com/inventory/new-2023-mercedes-benz-g-class-amg%c2%ae-g-63-4x4-squared-a...

See also

https://www.caranddriver.com/mercedes-amg/g63 

[sjrcpa]

Fine Corinthian Leather?

[IRonMaN]

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.