Thomas -
Thank-you for further clarifying George's reply about tax deductions and depreciation of property assets. However, I sense that you're still assuming I'm selling the vehicle. What are the tax advantages/disadvantages and depreciation parameters around gifting the vehicle to my contractor rather than selling it? Am I able to gift a company asset? If so, would I have to gift it for: a. the vehicle's FMV; b. the property asset value (which in this case greater than FMV, based on the original purchase price); or, c. a reduced value below FMV?
