I'm a low hour private pilot and I rent a Warrior from my local airport. I also own a used car sales business. I buy a lot of cars from dealer auctions that are several hours away from home. When we buy those cars we need to bring someone down so they can drive it back home. I've started to fly some of them to the car at the auction and it has saved me so much time. Does anyone know if I can deduct the costs of this even though I'm not a commercial pilot? I'm also considering buying an Arrow or a Dakota so I can get to destination faster. Would the purchase of that be tax deductible?
Usually any purchase and use of anything that is for business is tax deductible. But because I'm not a commercial pilot I'm not so sure.
Any thoughts?
Usually any purchase and use of anything that is for business is tax deductible. But because I'm not a commercial pilot I'm not so sure.
Any thoughts?