I am buying a car for my office that I will use for 51% business. I am considering either a Tacoma Off Road double cab or a 4Runner Off Road premium.
Both are roughly the same cost. The 4Runner is in excess of 6000lbs GVWR. The Tacoma is not.
What will be the tax differences between buying the 4Runner vs the Tacoma? Assume both are $40,000 for easy comparison.
Is the difference that with the Heavier vehicle I can depreciate a bigger portion in year 1 then the remainder the following years.
With the lighter weight vehicle I assume I will be able to depreciate the same amount as the heavy vehicle, just not as fast with the large depreciation in year 1?
Both are roughly the same cost. The 4Runner is in excess of 6000lbs GVWR. The Tacoma is not.
What will be the tax differences between buying the 4Runner vs the Tacoma? Assume both are $40,000 for easy comparison.
Is the difference that with the Heavier vehicle I can depreciate a bigger portion in year 1 then the remainder the following years.
With the lighter weight vehicle I assume I will be able to depreciate the same amount as the heavy vehicle, just not as fast with the large depreciation in year 1?
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