Questions about covering property taxes with depreciation
I own a trucking company (semi trucks) and a few of them i have personally guaranteed and appear in my credit report.
My question is, in Texas my Taxes are usually net negative due to the ability for depreciation on the trucks to cover any of the capital gains I’ve made. Say for example if i had a property with 8k property Tax per year, would this still be washed by the vehicles depreciation since i am the sole owner of this trucking company my business and personal tax returns are the same
Can anyone add any insight on this?
Thank you,