Write off your ATV on taxes?????
#11
Write off your ATV on taxes?????
Originally posted by: AtvWannabee
Yeah like when they're in 80 feet of water. Those Mudlites really work well in open water.
Originally posted by: ToughGUY2169
I write mine off for work. ( Lobsterman) I recover traps in hard to get places with it. So it comes in handy there. Plus it's a nice write off.
I write mine off for work. ( Lobsterman) I recover traps in hard to get places with it. So it comes in handy there. Plus it's a nice write off.
#12
#13
Write off your ATV on taxes?????
Well I spoke with my accountant today and you are all correct in that an ATV can only be written off (depreciation) if it were used for work/business that provided an income, yet that same income made by the use of the ATV needs to reported and thus you are taxed on that. At first I was thinking of purchasing an ATV with a plow and using it to plow the driveways in my neighborhood and writing it off that way but my tax accountant also informed me that the ATV could only be written off at the percentage it was used for work. For me that would be about 10-15% of the time allocated to work which translates into an insignificant amount to be written off. I guess I'll have to wait another year before I can purchase one.
Thank you all for responding.
Thank you all for responding.
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