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Re:One Day After Indictment, Former Chesapeake Energy CEO Di... by mmanfrin on Wednesday March 02, 2016 @06:34PM (#11213950)
Is buying a new car every <2 years a requirement of being excessively wealthy?
Re:One Day After Indictment, Former Chesapeake Energy CEO Di... by sriram_sun on Wednesday March 02, 2016 @06:40PM (#11213995)
If it's a big SUV you can take write-offs. Here is some data from my accountant. "By way of example: $40k suv. $25k section 179. Then bonus is 50% of the $15k remaining $7500. Then a little bit of standard depreciation. So that vehicle would be a $32,500 deduction if new or $25,000 if used."
Re:One Day After Indictment, Former Chesapeake Energy CEO Di... by protomyth on Wednesday March 02, 2016 @09:17PM (#11214622)
I know people who aren't excessively wealthy that do that. I think its a tax thing for them, plus they put a lot of miles on the car each year.