Tax Reduction Letter - Trade-Ins of Business Cars Can Create Big Tax Deductions

Article Date:

June 2010

Word Count:

652

Trade-Ins of Business Cars Can Create Big Tax Deductions

Question

I have been in business for 15 years and have always traded my old business car for a new business car. During this 15-year period I have owned five cars, and I am now going to sell this fifth car to a third party. Is this change in my pattern going to produce a tax deduction? (S.R., Newport Beach, Calif.)

Answer

Yes, a big deduction!

You get this big deduction because, at the time of sale, you are really ... Log in to view full article.

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