IIRC, interest on a work vehicle is separate of a mileage write-off. I'm not about to run through my taxes and see though, so I'll just concede this one to you.
About paying cash though, you would have been better off to take a 0% APR loan and stick the cash in an interest-bearing account. When the loan is paid off, you will have paid same as cash but your invested money would have yielded a return on your investment. Even at a modest 5%, you would have grown your savings to $46,000. The way I see it, buying that truck for cash cost you $10,000. You don't even want to know how much that money would have grown in 5 years if you were getting 10%.
Re: Work Done By Baileys Satellite
Member #: 40846
Registered: 9/19/2005
Posted:
1493
Name:
Duane Vick
Name:
Duane Vick
Company:
Self-Employed
Occupation:
Installer
Location:
Phoenix AZ
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