Sports car with advertising a valid deduction?

Question

Example. Buy a Corvette and put lettering on the back windshield “Will buy your house as-is for cash! Call xxx-xxx-xxxx” or make a website for people to fill out a form. I actually think this would be pretty good advertising. Also use the vehicle to look for deals and travel to meetings etc.

Has anyone done this? Any red flags from your accountant? I would think this would be fine as long as it’s used for business. And if used for personal only write off % used for business which I have done for a truck in the past.

Corby Goade · Answer

Not an accountant, but I'd imagine you could write off the decals, but not the car.

As an active investor, I'd probably not ever want to do a deal with a wholesaler driving a corvette around, talking about buying houses with "cash."

Chris Seveney · Answer

@Hunter Purnell

Even if it’s a write off this is a horrible waste of money for a business.

Check with your cpa but car typically has to be registered in company name and only used for company business.

Just because something can be written off doesn’t mean you should buy it

Michael Plaks · Answer

@Hunter Purnell

Advertising on your car does not convert your mileage into a deductible business mileage

Ashish Acharya · Answer

Advertisement has nothing to do with the deduction of a car. The deduction depends on the usage and that is determined via tracking mileage.If you put the car on display (not use) in your office or place of business as a decoration, maybe.

Sports car with advertising a valid deduction?

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