Write off a new car with affiliate earnings?

by spartanic

Posted: 11 years ago 9 replies

INTERNET MARKETING

Since the majority of our business takes place online would it be possible for us to write off a new car bought using our affiliate earnings?

Let's say you use it 90% of the time for personal and 10% for traveling to affiliate gatherings and conventions.

How much of the new car would we be able to write off?

My assumption is that you would probably have to use the car more for business rather than personal for it to be deductible.

#affiliate #car #earnings #write

NatesMarketing 11 years ago

I would probably contact a CPA for that...not ask a bunch of hooligans on a message board
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CyberAlien 11 years ago

Technically it should be used all the time for business. If you're trying to write stuff off, write off the gas you spend driving the car when using it for business. But ultimately discuss it with a CPA.
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EugeneFarber 11 years ago

Chase is right. Your other alternative (other than gas) is to write off mileage. Those are really your two options. I have a sneaking suspicion that a car that is 90% personal isn't eligible for a write off. The thing to keep in mind, though, is if the 10% that you are going to write off is even worth it. Car write-offs are extra paperwork and hassle.
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Janice Sperry 11 years ago

I am just another "hooligan on a message board" but you may want to talk to your tax advisor about putting a sign on your car for advertising your business/website. Even when using it for personal matters you are advertising so you may be able to write off... (oops I almost gave you my opinion)
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- joseph7384 11 years ago
  
  Originally Posted by Janice Sperry
  
  I am just another "hooligan on a message board"
  
  Originally Posted by Janice Sperry
  
  (oops I almost gave you my opinion)
  
  These two sentences had me rolling, thanks for the chuckle.
  
  Thanks
  
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spartanic 11 years ago

lol, thanks guys for your advice. I'll definitely have to find a CPA for this.
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- JohnMcCabe 11 years ago
  
  This is not advice, just what I used to do...
  
  Back when I had a regular day job, I got a PO box along my commute route. Each day, I would stop and check for mail. This allowed me to write off the round trip mileage. If I made a business-related trip, I logged that mileage, also.
  
  At the end of the year, I would write off the percentage of car-related expenses equivalent to the percentage of business miles.
  
  Laws are constantly changing, so competent up-to-date advice is a good idea...
  
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micksss 11 years ago

Same here John. Mileage to my small office, PO Box, and the bank. My accountant laughs at the small number, but it's something
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MartinPlatt 11 years ago

You need proper accountant advice for that.

I think that if you can prove that going to those gatherings is part of doing business, and that the business is making money, then you should be able to. You'll probably have to keep a log book.
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