How does deducting a vehicle work?

[dubs chops]

OK guys, I know someone here has done this.

I want to buy a side by side probably a polaris RZR. I will use this for trade shows to promote my business along with taking potential customers on adventures in the great outdoors to test the equipment I sell. What would be the best way to deduct or claim this cost?

Does it matter whether I buy new or used?
How much of this could be deducted and over how long?

Any help is appreciated guys and gals.

 

[Rod Snell]

http://www.irs.gov/businesses/small/article/0,,id=109807,00.html

Publication 535, Business Expenses.
Capital Expenses
You must capitalize, rather than deduct, some costs. These costs are a part of your investment in your business and are called capital expenses. Capital expenses are considered assets in your business. There are, in general, three types of costs you capitalize.

Business start-up cost (See the note below)
Business assets
Improvements

Rules vary for different assets, and assets only partly used for business are a bucket of worms, especially vehicles.
Happy reading; you may need a tax specialist to translate.

 

[reddog1]

To deduct the payments you need to make it a commercial vehicle, it will triple your insurance, but you can deduct the payments, ins, gas, everything.