Hi all,
I have a very satisfying full time job, which just so happens affords me a lot of time off when I'm scheduled to work. In the last few months I have been toying with different ideas for opening a small business, perhaps to subsidize my income, but also pursue something I am passionate about. And on such premise I am turning to the pundits of this board, for some advice.
Am I right to assume that if I incorporate a motorcycle into my business, it then becomes a business expense and I am able to write off all the costs associated with it? Further to this, let's say that I made my motorcycle a mobile billboard, an advertisement for a company...would this classify as a business and could afford the write offs?
Any thoughts on this will be appreciated...maybe I am totally off base...and it'd be good to know sooner than later
Thanks
I have a very satisfying full time job, which just so happens affords me a lot of time off when I'm scheduled to work. In the last few months I have been toying with different ideas for opening a small business, perhaps to subsidize my income, but also pursue something I am passionate about. And on such premise I am turning to the pundits of this board, for some advice.
Am I right to assume that if I incorporate a motorcycle into my business, it then becomes a business expense and I am able to write off all the costs associated with it? Further to this, let's say that I made my motorcycle a mobile billboard, an advertisement for a company...would this classify as a business and could afford the write offs?
Any thoughts on this will be appreciated...maybe I am totally off base...and it'd be good to know sooner than later