07-14-2020, 06:05 PM
(07-14-2020, 05:47 PM)jeffster Wrote: I have heard of this before. And as much as I would love to have a couple hundred extra dollars coming in every month, this would be a big 'no thank you'.
I am guess, depending on your car expenses, you should be able to write off 100% of car expenses, since your car is a moving advertisement. I could be wrong though. Doesn't make me change my mind though.
I doubt about the 100% write off. I’m not a tax expert, but unless the only purpose of having the car on the road is to advertise, I believe one would have to do some sort of pro-rating calculation based on what fraction of the car is being used for advertising. I know for something like renting out a basement apartment expenses such as utilities need to be pro-rated. There is some room for arguing about the ratio (e.g., is it 50% because the building has two units, one of them rented; or is it 33% because one of the 3 floors is rented?), but writing off 100% won’t fly.
As to the advertising, I wonder what the endgame is here. I mean potentially most cars could have advertising on them; but how much impact would any of it have if almost every vehicle is a rolling billboard?