Can you add a company logo to a someone elses car and get a tax write off?
February 10th, 2008 | by logo |
Jahrwh asked:
Just curious about the tax code concerning a company car. If you add your logo to someone else’s car can you write it off?
GEOFFREY
Just curious about the tax code concerning a company car. If you add your logo to someone else’s car can you write it off?
GEOFFREY
One Response to “Can you add a company logo to a someone elses car and get a tax write off?”
By bostonianinmo on Feb 13, 2008 | Reply
You can deduct the cost of the advertising materials only. You can NOT deduct any part of the cost of the car or the costs of operating it. You can’t deduct those even if YOU own the car. (The business use of your car is deductible, but slapping some advertising on the family jalopy doesn’t qualify as business use.)