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]]> http://newcarforsale.net/car-parts/04-05-06-07-08-ford-f150-mirror-covers-cap-chrome-truck/feed 0 How do car companies profit from giving away free gas for the summer with a sale of one of their new cars? http://newcarforsale.net/new-cars-sale/how-do-car-companies-profit-from-giving-away-free-gas-for-the-summer-with-a-sale-of-one-of-their-new-cars http://newcarforsale.net/new-cars-sale/how-do-car-companies-profit-from-giving-away-free-gas-for-the-summer-with-a-sale-of-one-of-their-new-cars#comments Fri, 12 Feb 2010 06:52:49 +0000 admin http://newcarforsale.net/new-cars-sale/how-do-car-companies-profit-from-giving-away-free-gas-for-the-summer-with-a-sale-of-one-of-their-new-cars Continue reading]]>

I was watching TV and on a Subaru commercial I think, it said they’re giving away free gas for the entire summer, and on another commercial it said they’re giving away gas for $2.99. How does this work???

Well, a couple of things. They cap the annual mileage use for the car you buy at 12,000 miles or something. And, I hear they cap the gallon-per-year limit, too. So you can’t just buy as much gas as you want in three years. So it’s kind of like a manufacturer’s rebate in the form of gas.

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]]> http://newcarforsale.net/new-cars-sale/how-do-car-companies-profit-from-giving-away-free-gas-for-the-summer-with-a-sale-of-one-of-their-new-cars/feed 7 Can I deduct a new car purchase for my business? http://newcarforsale.net/new-car/can-i-deduct-a-new-car-purchase-for-my-business http://newcarforsale.net/new-car/can-i-deduct-a-new-car-purchase-for-my-business#comments Tue, 10 Nov 2009 09:47:16 +0000 admin http://newcarforsale.net/new-car/can-i-deduct-a-new-car-purchase-for-my-business Continue reading]]>

My wife and I purchased a new car in 2006. The car is used for both personal use, and for use in my business. Can I deduct anything on my taxes in regards to the purchase of this car? Would I be listing the car as a business asset?

Yes, you can. However, the IRS only allows you to take pieces over time. You’ll need to look into the instructions for depreciation or form 4562.

Most cars are subject to the luxury auto limits meaning there is a cap as to how much you can deduct as depreciation expense each year. For someone that has never dealt with this before, it can seem very complicated. Now might be a good time to hire a CPA to handle your return. Part of the cost (for the CPA) is also deductible as a business expense!

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