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I'm wondering if I would be allowed to write off buying a Tesla bought within the coming months if I plan to start using the robotaxi service when it's available. The idea is to buy, say, a Model Y and drive that until the Tesla robotaxi service is up and running, which I will then buy a Cybertruck to drive (and not use with robotaxi because fuck the plebs).

If I do this, can I write the first Tesla off for a business expense when it comes time to do my taxes? Thanks to anyone able to answer.

I'm wondering if I would be allowed to write off buying a Tesla bought within the coming months if I plan to start using the robotaxi service when it's available. The idea is to buy, say, a Model Y and drive that until the Tesla robotaxi service is up and running, which I will then buy a Cybertruck to drive (and not use with robotaxi because fuck the plebs). If I do this, can I write the first Tesla off for a business expense when it comes time to do my taxes? Thanks to anyone able to answer.

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[–] • 0 pt

So, hypothetically, the way this would work would be the person who rented said vehicle didn't technically own it and therefore use it personally, but the fresh one they'd purchase later on could be then written off as a business expense?

[–] • 0 pt

None of that matters. If you rent your car and make income, you report that income and pay tax on it. You then can deduct expenses related to it. Keep in mind you need to report a profit after a few years or the IRS considers it a hobby. Then all those expenses become taxable.

[–] • 1 pt

Meh the renting it angle seems convoluted to me... In this hypothetical circumstance, I think I'd probably prefer just buying the vehicle. All of this shit is too complicated and this is something I have little patience for. I'll probably just throw money at someone and let them figure it out. I just don't want to get McAfee'd here and I guess his news is making me feel like being a bit more thorough.