Pros and cons of buying a vehicle for a small business Buying a car is a major purchase, so it’s important to evaluate the pros and cons before you decide on a make and model. Pros of buying a car for your business Buying a vehicle for your small business comes with certain tax, ...
interest paid on margin loans can be an itemized tax-deduction.9Additionally, any capital gains or losses resulting from the sale of ETFs on margin may have tax implications depending on the vehicle in which the ETFs were traded.10
Ex-rental cars: These cars must pass the official vehicle inspection (ITV) 2 years after purchase instead of the usual 4 years for a new car. Many people don’t know this and it can invalidate your insurance if you have to make a claim and the car hasn’t passed the ITV. If the c...
Specifically, the legislation creates a vehicle for taxpayers to contribute to certain charitable funds that, in turn, would be applied for local tax purposes. The concept is that, as a charitable contribution, the amount paid by taxpayers who itemize their tax returns could be claimed as a ...