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Tractor Talk Discussion Board

Re: Tax Deduction for an atv.


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Posted by JRSutton on September 14, 2012 at 04:43:22 from (75.130.109.233):

In Reply to: Tax Deduction for an atv. posted by Bobfish1 on September 13, 2012 at 11:35:08:

As a certified non-accountant -

I'd say if he's an employee - non compensated expenses ARE deductible - but to be safe, he'd have to log the time he uses the atv on the job.

The only part that would be deductible is the part he uses on the job. Call it a 5 year depreciation and figure out what each day of use costs.

Similar to nonreimbursed car expenses. The IRS allows $.xx per mile driven - NOT the cost of the car.

I think the government's going to raise an eyebrow if he tries to say the atv is 100% for work only. Corporations typically don't have their employees buy expensive assets FOR them. That might even raise some IRS eyebrows against his employer.

Something tells me said ATV is probably not stored permanently onsite at the job location either.

The people at the IRS are no differnt than us - and WE all think the same thing - it's more about having an atv for fun than having an atv for work. He COULD use a bicycle.

So I say just deduct the work related part. I think that would slide under the IRS radar with no problem, and it would be the honest thing to do.


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