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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 long as you incorporate by Dec 31st, you're fine.

But... just to be clear we're both talking apples.

Jan 1st. You buy it.

You drive it around for 6 months.

June 1st, the service goes live.

Here is where you'd, likely, be wisest to incorporate. Besides, they will want your tax documents... just a guess. EINs are easy to get.

However, say it was a lawnmower and nobody needed to see paperwork.

Dec 31st is your deadline to incorporate for the tax year.

Now, to get around all this, for a car, you can get an EIN without incorporating, then incorporate at the end of the year.

I'm not assigning any reasons, just describing what is possible.

[–] • 1 pt

Interesting. I think at present the plan is to incorporate in 2022. I'm really not sure how my situation is going to play out and there's a lot of variables here. So, from what you're saying it appears what I'm planning doesn't seem to have big issues. I think this answers the question well enough. Thanks.