Scenario 1: What if I review cars? I buy the car new lets say for $50k. Then I do a review on it when I get it home. Soon as I drive it off the lot the car will only sell for $40,000. Can I write off $10,000 one week later when taxes are due?
Also know that the entire life of the car is for me to test how it holds up over normal pleasure commutes. Every single drive would be documented and uploaded as daily reviews to test how the car performs at pleasure driving over the course of 10 years. Yes each drive may also be pleasure but it’s also making a video for reviews for my business so at least 50% of $50k would be deductible?
Scenario 2: I buy a low milage used car for $50k. When I drive it off the lot it is still worth $50k. But then I park it in storage for 10 to 20 years. After 10 to 20 years I will resell the collectible car for $75k. Until I sell the car can I claim 100% of it as an experience since that the only reason I bought it is 100% for business?
Scenario 3: This is an add on to the original poster’s question.... If they buy an item for $500 and do a YouTube review on it but then every single time they do a future review on a different item that $500 item is on display in the background of their videos as part of their branding image. Each time they review a new item they put it on a shelf so everyone can see it in the background of all future videos. At that point the item is 100% for business use only. Can each item be deducted 100% in this scenario?
