Are Vehicle Wraps Tax Deductible Purchases?
Vehicle wraps are an effective and affordable way to advertise a business of any size. Depending on your commute, a wrap can generate between 30,000 to 70,000 impressions in one day alone! Even though that alone is enough reason for most business owners to move forward with a wrap, some want to ensure that the purchases they are making on advertising are deductible at the end of the year.
While we aren’t CPA’s over here; we do know a thing or two about taxes, deductions, the works. The best information and advice I can give is below (however I do recommend consulting a tax professional for final answers on what is best for your business.)
Personal Vehicles used for Business
If you have a personal vehicle that you are wanting to advertise your business on, the vehicle itself, as well as it’s expenses should be partially deductible. The advertising write off could be deductible in part or in whole depending on what your tax professional says.
Vehicles used Primarily for Business
If you use the vehicle solely or primarily for business, the vehicle should be deductible in full as well as the wrap.
It’s already the end of the year; why are we talking about this? Isn’t it too late?
Now is the perfect time to get started on a vehicle wrap you are wanting to complete during quarter 1 of 2022. Artwork lead time is 2 weeks from date of deposit, meaning if you place your deposit before the end of the year; you will be able to write off half of your wrap in 2021 and the other half in 2022. We also run specific deals and discounts during this time of year to ensure our customer’s are receiving the best care during the holiday season.
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