No, you cannot write off the truck payment, but you can take a deduction for depreciation (spreads the deductible amount over years) or the standard mileage deduction. You can also deduct the interest portion of the loan- you may have to calculate what part is business interest if you use the truck for both work and personal (just apply a percentage).
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
