Delivery Van

[TheGoodnShawn]

placed into service 04/16/1999....at $16,000. The entire cost of the vehicle was expensed under Section 179. 100% exclusive use for business with 12,000 miles driven.

I am not sure how to handle this situation, is there some guidance. Even if I can be directed to a source to provide the info, I would be very much grateful

Thanks

[Uncle Sam]

Delivery Van

I can tell from your posts that you're inexperienced in tax preparation. I strongly suggest that you read IRS Publication 17, and 334, and while you're at it, elementary accounting.
Your questions show your lack of knowledge of both.
I doubt the purpose of this board is to hold your hand. It's truly meant for practitioners to exchange ideas and thoughts with each other in practical solutions to matters that are unique or very technical in nature.

[veritas]

placed into service 04/16/1999....at $16,000. The entire cost of the vehicle was expensed under Section 179. 100% exclusive use for business with 12,000 miles driven.

I am not sure how to handle this situation, is there some guidance. Even if I can be directed to a source to provide the info, I would be very much grateful

Thanks

You gave us some facts but I don't see your question?

[Bees Knees]

TheTaxBook, Tab 10, gives you all the details on how to handle business use of a vehicle.

[TheGoodnShawn]

Thanks for the replies

I apologize to those who found my questions out of line. I am actually working on some practice sets...and as I am looking to gain knowledge, I am becoming mentally frustrated with all the info

I do have the tax book, and I appreciate the help

[jainen]

take actual expenses

The taxpayer can not use the standard mileage allowance because he already claimed a Section 179 deduction. If he has adequate records he can take actual expenses such as gas and maintenance, but not depreciation.

[Black Bart]

Play it again, Sam (and give him a break)

...you're inexperienced in tax preparation...elementary accounting...lack of knowledge of both...the purpose of this board is...for practitioners to exchange ideas...thoughts...practical solutions

Even NY practitioners don't spring into the world full-blown/grown spouting off IRC regs, chapter and verse. The guy's just trying to get a little help. You're halfway right -- the purpose of the board is to exchange ideas, thoughts, etc., but not just those that are on your level. It doesn't do anybody much good to say "check with me later when you have acceptable questions."

Think back to a time when you didn't know very much at all about taxes. You remember how that was, don't you? I know I do.

There but for the grace of God, go I. -- John Bradford

[Snaggletooth]

Exclusive Board

We've been down this road before. Some of us try to govern who can post on this board and who cannot. Since the board is really the property of TMI publications I would say if Shawn has purchased a TaxBook, he is serious enough into tax preparation that we should all forbear an exclusive mindset.

I've read both posts from this guy and it is quite obvious he is quite neophyte with tax subjects. But many of you should appreciate the fact that he is registered. Uncle Sam threw the first stone, but Sam has also given some valuable advice over the last several weeks/months.

Shawn, thanks for posting - at one point we all were just beginners and at that point in my career I wish I had a message board as good as this one. I do have some advice - in both of your posts I had a problem figuring out what your question was. Please be specific and clear when posing questions.

Regards, Ron Jordan - Manchester, TN
"Snaggletooth"

[Black Bart]

No problem.

I apologize to those who found my questions out of line. I am actually working on some practice sets...and as I am looking to gain knowledge, I am becoming mentally frustrated with all the info

I do have the tax book, and I appreciate the help

I'm gettin' kinda mentally frustrated, myself, postin' on this board. Besides, wait until you go a couple of rounds here with jainen -- (that's a person) -- and then you'll be truly frustrated. Anyhow, you cared enough to buy TheTaxBook, so you cain't be all bad and no apologies are necessary.

Okay; a couple of things: Go up to the top of this page where the black bar is and click on "Search." When the window drops down, click on "Advanced Search." Next window; at top left under "Search by Key Word," type in "car expenses," go down to bottom, hit "Search Now" and a couple of pages of posts and discussions about cars will come up (same for any other topic you're curious about).

Go to Google, type in "IRS Publication 463" and that booklet (Travel, Entertainment, Gift, and Car Expenses) will come up in PDF format. Right click, zoom to 100%, arrows at the bottom will take you to page 15 to the section on "Car Expenses." Read that and get back to us.

Go, my son, and sin no more.

[Snaggletooth]

Bart - Does this guy fit in?

Any idea whether GoodNShawn can be a good ole Southern boy? He's from Atlanta.

Remember the Martha White Bluegrass Bus? "Goodness gracious, Good N Light, Martha White." What 'bout early morning biscuits "Good N Hot?" And let us not forget Tennesseee whiskey "Good N Smooth." I don't know what GoodNShawn does for any of these, but maybe he's off to a good start...

[Black Bart]

Hey Snag.

A fellow insomniac, eh? I went to sleep on the couch at eight and this 2-3 AM posting pastime is the result.

Yeah, GS says he's an Atlanta boy, and, like me, doesn't know much, so I guess he'll fit right in. Those are some Southern items alright. I used to be fond of that Jack Daniel's, but cain't cut it much anymore. You?

Whatcha been doin'? Goin' to any Bluegrass festivals?

I'm crankin' up for tax season. The local Jack-H office put up their "Holiday Express Loan" signs a couple of days ago and a guy came in today wanting to know "how much do y'all loan?" Lordy, Lordy! Never thought I'd have to transmogrify myself into a watered-down version of a banker.

You been doin' okay?

[Snaggletooth]

Bart

yes my flurry of wee-hours posting is the result of going to bed too early.

Actually Jack Daniels distillery is some 20 miles from where I live. It is in Lynchburg, and around here we just call it "Lynchburg Lemonade." Another distillery, George Dickel, is just out at the Bedford County line and even closer. "Tennessee" whiskey is a patented charcoal-filtering process and only these two, Daniels and Dickel, make Tennessee whiskey. And they are about 10 miles apart. All of Jack Daniels, including their #7 label, is sour mash and I never developed a taste for it. Yankees and others don't know it, but the Jack Daniels distillery makes about 20 different products and distributes all over the world - its #2 product after Daniels is Southern Comfort.

In my drinking days, Kentucky Bourbon was my vice. In Kentucky, Christian County is wet and Bourbon County is dry. A little strange, perhaps, but Kentucky's got some good-lookin' women.

While we're makin' the rounds, North Georgia was the Moonshine Capital of the world, along with Southern Illinois. I've seen more moonshine in the mountains of Georgia than could be drunk in a thousand lifetimes, and if the moonshiner was decent, the stuff would be really clean. Hard to find anymore - Pot is easier to grow and brings more profit. Moonshining was hard work.

Another "vice" is too much Bluegrass music. I can't stay away from it. You should get more over in Arkansas.

Signing off after this stimulating tax discussion - Snag

[Bees Knees]

You will get a specific answer to your question if you ask a specific question. Asking general questions about subjects will get you general answers. I don’t mind answering easy questions. But there has to be a question before I can answer it. If the question requires ten pages out of TTB to answer, then the question is too general.

[Oxtrainer]

Van expenses

Shawn
No tax preparer knows it all, some of the most experienced of which I am not
lack the answers to the simplest questions. Jainen give you the right answer.
Keep on asking if you don't know. It is almost always better to appear ignorant than to
be ignorant.

[Black Bart]

That's good advice in this case, Ox,

that is, it's "better to appear ignorant than be ignorant," since it's evident anyway that he's a beginner. It's a little more iffy if you're an old pro who's supposed to know -- somebody once said that, in that case, it's better to remain silent and be thought a fool, that to open your mouth and remove all doubt (I guess that's where posting as an "unregistered" comes in).

Snag, Bees, Veritas, and Sam have good points though. My first thought and probably that of others upon reading the original post was "What's the question?" So, there was a lack of specificity and one shouldn't cast too wide a net.