posity
Member
This tax discussion is incredibly helpful for me. What I think I understood from my accountant is that it could be worth my while to carefully ensure and faithfully log that our sole proprietorship business is using 100% of the new Model X until the end of the year (rather than my S Corp). Then we'll be able to possibly use the 179/168K, but it is all so complicated, as you indicated, that we won't really know whether the 179/168K is worthwhile until he runs multiple scenarios when he calculates the taxes. In either case, if we are carefully logging all business miles, the standard mileage rate has a reasonable likelihood of being the best approach - but, as you said, it makes me a pretty boring candidate for any bar-room discussions in that case.
I'm an engineer. I can build some pretty darn complex electronic circuits and design machines that I think are fun to watch operate, similar to the automation that are being used to build the Teslas. It's why I'm so excited to buy a Model X - and why I feel like I'm 'doing the right thing' by supporting a cause that really does have a chance to make the world better.
When I'm around a CPA/accountant that understands this incredibly complex tax stuff, I am in total awe of that breadth of knowledge. Just like when I start explaining electrical theory/practice to people and I watch their eyes glaze over, I know I get that exact same look when my accountant starts explaining taxes to me. Thanks for taking the time to explain these ridiculously complex subjects in (somewhat) simple terms.
I'm an engineer. I can build some pretty darn complex electronic circuits and design machines that I think are fun to watch operate, similar to the automation that are being used to build the Teslas. It's why I'm so excited to buy a Model X - and why I feel like I'm 'doing the right thing' by supporting a cause that really does have a chance to make the world better.
When I'm around a CPA/accountant that understands this incredibly complex tax stuff, I am in total awe of that breadth of knowledge. Just like when I start explaining electrical theory/practice to people and I watch their eyes glaze over, I know I get that exact same look when my accountant starts explaining taxes to me. Thanks for taking the time to explain these ridiculously complex subjects in (somewhat) simple terms.