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I am getting ready to buy a truck for pulling and hauling loads, particularly an f350 super duty. I am also wanting to offer a service to people for hauling loads such as construction supplies. Is there a way that I can write off the truck on my taxes? as far as the cost of the truck or at least repairs and milage?

  • I edited out the Craiglist reference. Craiglist is an online site that has a variety of services and items for sale. (I list rental property there. A friend has had a 5 year ongoing garage sale using CL.) It's unrelated to your business, hauling stuff. – JTP - Apologise to Monica Jun 3 '16 at 20:05
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    Which country are you in? – Ben Miller - Reinstate Monica Jun 3 '16 at 20:07
  • USA, @JoeTaxpayer You can list services on craigslist. – Travis T Jun 7 '16 at 18:33
  • Of course you can, but that has nothing to do with the question. – JTP - Apologise to Monica Jun 7 '16 at 18:38
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Assuming your country is the United States there is. See schedule C line 9 and the corresponding instructions.

Here is a pic of the form.

There are many rules associated with this, in some cases the entire purchase can be written off but typically if the truck is only used for business. Most people write off partial usage in the form of credits for mileage.

You are best to consult with a CPA once your business earns a profit. Good luck.

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    Can he write off losses if the business runs at a loss? CPA might be a good idea the day before he buys the truck. – JTP - Apologise to Monica Jun 4 '16 at 14:05

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