I'm a self-employed contractor looking for a work truck.what is a better tax

[chester]

deduction?Buying new or used? which has more write-off potential?i can afford a new truck but i'm used to buying used and have never depreciated a vehicle before,just taken the standard 47 cents per mile deduction.i'd like to buy new if it makes any economic sense at all.

[SiggySmalls]

New probably

[pootfart3]

You would have a bigger tax deduction with a new truck because of the potential larger depreciation deduction it will allow you to have. The more expensive the truck the more the depreciation amount and the longer you'll have to depreciate year after year...

[Dwight D J]

Dont buy either--lease! If you lease, you can expense the entire payment amount as a business expense (plus the necessary gas & maintenance while you're leasing it), and this won't be subject to the mileage allowances that it would be if you purchased it.