An article in Physicians Money Digest recently advocated new car purchases over $40,000, ie. a luxury car used exclusively for business gets a "special" deduction of 50% off purchase price, up to 15,500.00 or so. So does this really work?-our medial group tax accountant never advocates individual or "practice" cars in this manner. I'm in need of a new car-I was going cheap as I'm the sole breadwinner with big med. school debt; but I've put off a "real" car for years. I'm 41 and ready for a decent car-is this the tax effecient path? Also what defines "exclusive" no soccer mom trips then?
Thanks,
Cindy Schuler, M.D.

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Our August newsletter contained information on this newly increased tax deduction. You can find that article at http://www.mdtaxes.com/news0803.html.

Zip Code: cpa@mdtaxes.com