Don't Buy A Car Without Knowing This

Broadcast here on YouTube, Facebook, different platforms. Excited to be here with you and talk about the auto strategy for business owners. If you've got a side hustle, you've got a side gig, you've got a full time business, you've been in business for years. I've got some cutting edge information and strategies with seven rules of thumb how to approach a vehicle purchase. Do you buy used? You buy new? Do you buy mid priced, high price? Do I lease? Do I go electric? We're going to hit it all now. My name is Mark Kohler. I'm a CPA attorney, bestselling author, podcaster, blogger, blah blah blah. So I'm here to answer your questions. Grateful to be here with you. A quick couple disclaimers. Please do not look at any posts or comments in the Facebook group. I don't think it usually happens in the YouTube comments, but anything on Facebook about Bitcoin this or Bitcoin that. I'm not making any comments. Don't listen to anybody that's got a promotion or a this is a really cool thing or blah blah blah. Don't click on anything, just read the comments. If you have a question or comment, please type it up. We're going to do live Q and A on this topic and I'm here for you for the next 30, 40 minutes and hope to wow you. Now I've been a business owner my whole life. I had a lemonade stand as a kid but back then I couldn't afford a vehicle nor did I get to have one. Mom would have to drive me around to go pick up my lemonade and my ice and build my stand. But now that I'm older, the auto deduction in multiple businesses of mine is very important. This is an area where a lot of clients blow it. There's a really great write off for auto and we want to take advantage of that. And you can have multiple autos in your life. You could have a car that's actual, a car that's mileage. You can write off your rv. You might ride off your motorcycle, you might have a truck, you might have an suv. You could have all five in your yard. And we're writing them all off under a business in some way, form or fashion. If your accountant is not trying to drag this information out of you. If you've got to get a better Tax Advisor now on my website we've launched this year my new Certified Tax Advisor program. It's been in the works for years. I'm so excited about it and I'm Training now accountants and enrolled agents and CPAs around the country on the strategies I teach. Kind of the street smarts of helping main street business owners like you. Within the next month, the whole network will. The network will start to have certified advisors that have graduated, available for you to interview and hire if you want. So if you're looking for an accountant, if you don't have the right accountant, don't stress within the next six to eight weeks you can go to markjkohler.com and find a certified tax advisor there to help you that eats, breathes, sleeps and drinks the same Kool Aid I do. And if you're a tax advisor or want to be a tax advisor or even just want to advise yourself, better get over to markjkohler.com and check out my, my workshops with that is 12 modules, 80 videos, weekly trainings, group forum chat, white paper workbooks. You'd frickin love it. So I'm trying to create the best tax advisors in the country. All right, now let's dive into the auto deduction. Let's see. First you have to know that there's two methods. Let's go to the whiteboard guys, let's just throw that out there. Let's just get it out there. There's really two methods to write off your auto. You can go mileage or you can go actual. And you may say, well what does everybody else do? It depends on the car, it depends on your business. It depends on how many miles you're putting on. You might have one car in your household this mileage, you might have another car that's actual. It depends on the type of vehicle. An SUV or a truck versus a car mid price, not price, whatever. Now under mileage, let's just get it out there. For every mile you drive for business in 2023, it is 65 and a half cents per mile. So if you put on 10,000 miles, you just got a 6,500 and change write off, that's a big deal. Now if you go actual, you get to write off depreciation, repairs, maintenance, gas, which is the big one. So you're going to look at your mpg, your miles per gallon and say, am I going to have a big gas guzzler or not? And in the actual, we're going to have kind of two categories. We might be doing leasing, we might even be doing electrical. And so we're going to look at those options. And so when you're saying, mark, which one do I do? I'm going to go through Seven rules of thumb now. And I'm just going to start there because I wanted to get these rules of thumb out there and this might help us go through these issues. And then I'm going to do live Q and A here. All right, the first thing that I want to say is in these rules of thumbs, let's get some ground, let's actually get some ground rules out there. You can buy new or used and use either method. That's okay. You can put cash or credit, doesn't matter. You can use either method. Okay. You can have multiple cars in your business structure or SUVs or RVs in structure. You can have family members that drive your business vehicles and you want to have them. You're getting write offs for them, helping you out in the family with their vehicles. And then finally you can contribute a car to the business. The business doesn't have to own it. On title ownership doesn't matter. Ownership doesn't matter. It's just. What matters is use. So use. Do you use it for business or not? Is all the IRS cares about. And wrapping it with signage. Irrelevant. Signage is irrelevant. The IRS doesn't let you write off more because you put the side of your the name of your company irrelevent on. If you put the name of your business on the side of your car and drive for groceries, IRS doesn't care you were going for groceries. Personal use. So it's where you're going with the car that matters, not what's painted on the side of the car. So these are some of the ground rules. And then let's get to it. Every client of mine should have an auto deduction. We just want to figure out which one is best for them. So let's go through these rules of thumb. Now this is an article on my website. It's down in the description. James, can you make sure the new article on my blog on autos is in the description? Appreciate it. I want to give a shout out to my studio guys. They're here every week trying to build me up, pump me up before every live and playing AC DC and rocking this house here. And I just really want to say thank you. I appreciate these guys. They're such a huge support to me and it means more than they know. Also, I got a funny story. I hit Route 66 this last week and I'll tell you about that a little later. The infamous Route 66 I went into, literally Radiator Springs if you're a fan of the car show from Disney. All right, so here's rule number one. All right everybody, this could be your just rules of thumb. Now this is going to be, each one of these is kind of like a general rule that if you meet this rule, this is probably the way you're going. So don't let your account steer you wrong. Have a good conversation. Okay, so rule number one, okay? If you're going to have a lot of miles, a lot of miles. Now this think realtor, developer, rehab or contractor, you might be out on the road quite a bit. If you're just working in your home office, you're not going to have a lot of miles. So we got to say are you're going to have a lot of miles and you're going to go with a kind of a mid to lower cost vehicle. You're not going out and buying something really fancy. You're not going to have a lot of miles. I'm sorry, you're going to have a lot of miles and it's not commuting. Oh, we should go back to that general rule. We'll go back to that in a minute. But you're going to have a lot of business miles and it's a mid to lower cost vehicle. And so really your rule of thumb is you're going to go mileage. You're going to go with the mileage method. That's kind of the general rule there. You could buy a car with cash, credit, whatever. This might be a car that costs 20 to 30 grand. You used whatever. And you're just like, I'm burning a ton of miles on this. You're going to go with rule of thumb number one. Now let's get back to. I've got another ground rule. Commuting is not a write off. Not a write off. Personal is not a write off. You've got to be using the vehicle for business. Right? Okay. All right, number two, rule of thumb. And we're going to get through these seven rules. Then we'll open it up for Q and A and go over that freak going to go, okay, number two, you're going to have low miles. So not high miles, but lower miles. And it's going to be average cost. So average cost vehicle, low miles, but you're also 50% business use, meaning at least 50% of the time is business use. And, and that allows you to unlock actual method. So if you're only, if you put on 10,000 miles and only 2,000 is business, you're going to be stuck with mileage. But if you've got business, 50% business use or more, then you're going to unlock the actual method. And that's rule number two. So moderate price, car, lower miles, but you're using it 50% or more for business. I'm going to freaking go actual. I want to write off all the fuel, repairs, maintenance, all those goodies. Now you don't get to write off the car payment, but you get this depreciation and there's a bonus depreciation of $8,000 out of the gate people the day you buy this vehicle. Under the actual method, we can write off to $18,000 just with a car and it's 18,000 or more. I'll get the actual limit here. Now if it's an SUV or truck, we can even write off more than that. So, so it's just crazy. But this right now, this year it's $19,200 that you can write off in the first year of a car. Now it's up to that. There's some math involved. We might get into it. Okay, rule of number number three, Rule of from number three, you're not going to have, you're going to have lower miles, so lower miles and you're going to be greater than 50% business. So low miles, you're going to have greater than 50% business use. So you're going to use it for business low miles. But now you're buying an expensive car. You want to have kind of a nicer situation going on, but you're not going to have a ton of miles. But it's 50% or more business use, nicer car. You may be spending 40, 50, 60 grand or more. It could be a Tesla or something like that, maybe. Okay, we are going to consider leasing. Now it's a great tax write off which will be under the actual method. But you want to consider leasing because you're going to have a lower payment out the door every month. You're not going to put on a ton of miles, you're not going to have a mileage penalty and at the end of three years you get the keys back. Now I've leased vehicles over the years whenever I stay under my mileage limit. It is incredible, the tax strategy and the economics of it. But when I go over the miles, leasing, scary as hell, expensive, you got to buy the vehicle at the end of the lease. You got to be careful. So that's rule number three. Consider leasing when it's a higher price, low miles. Okay, number four rule. Okay, rule of thumb, if you're going to have low and I'M looking at my article here. It's right here. I just make sure I'm on here. Okay. Lower, you're going to have low miles and it's also a lower cost vehicle. Lower cost vehicle. So here and. Okay, now hold on. I want to get this right. Okay. Okay. Low miles and, and it's going to be a higher valued car. So I want to make sure I got the right method right here. Low miles, higher value. And you, you want to own the car for a long time. You want to own it for a long time, you're committed to this car and um, you're not interested in leasing, you're going to go with the actual method because we want to get that bonus depreciation right out of the gate. So we want that bonus and, and you want to hold it for the long run. So we're going to probably stay away from leasing and we're going to go actual method. It's a higher value car. We want to be able to write that off over time. Okay, now rule number five. Let's say you're like Mark, it's just part time. I've got a side gig, a side hustle. I put a lot of commuting on and I'm going to be under 50% business use. Just I. And I may have high miles, I may have low miles. You know, it's going to vary from year to year. I don't know. Here's the deal. You're stuck with mileage. You're going to have to do the mileage method because you're under 50% business use. So under 50% business use. And it's just kind of a part time, business side gig, side thing. And this may be for some of you that have an extra vehicle in the family. The kids are driving it, the spouse is driving it, but you're using it for business. On occasion you're going to go, that's that number five. Okay, number six, I've only got two more. Rule of thumb is if you're doing an SUV or truck that weighs more than 6,000 pounds and many of you know this rule and you're going to get freaking unlimited bonus depreciation. Now when I say unlimited, you can go an unlimited in amount, but this year it's limited to 80% bonus, then we pick up the rest with 179. So if you accountants out there know what I'm talking about. So you're going to do a second bonus and a combo. You're going to do a combo of bonus and 179. And we're going to write this whole damn thing off. And we're going to do actual method so that the fuel, because you're driving an SUV or truck, so you're going to have lower miles per gallon and we want to write off all that fuel. So you're going to go actual method because you're getting the combination, the fuel and the bonus depreciation of 179. That combo is freaking magical on a tax return. Okay, now, number seven, rule of thumb, and you guys know the last one here is I'm going to go electric or hybrid and I have really high miles per gallon. Miles per gallon. I might get 40 miles per gallon. I might be going electric. And equivalent of 80 to 100 miles per gallon. When you look at the equivalent cost of electricity versus fuel and you're like, man, I'm kicking butt with a hybrid or an electrical. Electric, full electric. We're going to go the mileage method because you're going to get such a bigger bang for your buck with mileage than trying to just write it off actual. And you're going to get the tax credit of electric under the business strategy, which I refer to in the article too. Don't buy an electric vehicle and go for the consumer electric tax credit because it's limited by your income. If you put it under the business, there's no limit based on your adjusted gross income. Now, that's another strategy. I refer to it in the article. Now, let's just do a quick example here on the mileage method, just for fun. So let's say I'm driving a Prius or some sort of hybrid and I'm getting 45 miles to the gallon. All right, so 45. This is a little example here. 45 miles per gallon and the average gas might be right now, I just saw here in my local area, it's $3 a gallon. Right now it's down, which is great. So if I go actual method and I'm 100% business use and it could be an electric or hybrid. I only get for every 45 miles I drive under actual, I get to write off my gallon of gas. And then my actual costs, you know, like depreciation and repairs, maintenance, that's okay. But at 45 miles a gallon, check this out. Times 655, I'm getting a $29.47 write off for every gallon of gas. Let me repeat that. You go fill up the tank for three bucks. That's all you get to Write off under actual. Under the mileage method, I get to write off $29.47, because that's. I get 65 cents and a half per mile. I'm going to drive 45 miles. I get a ride off of 30 bucks. So if you've got high miles per gallon and you're going to. And I'm going to go mileage method all day long because I'm going to outperform on the bonus because my gas deduction is going to suck. So this is where on option seven, when you have the hybrid or electric, it can really pay off. Okay, everybody, those are my seven rules of thumb. The articles here on the website. You can play with it. We're going to open it up for Q A. Let's take me off the whiteboard, guys. And James, I might need your help to read some of these questions here for me.

Sure thing.

Let's tell me what we got. Who we talking to?

Hey, there's. Okay, so this one was good. I gotta scroll a little bit back up. Can you see?

Yeah, I can see, but it's a little far away.

Bigger monitor.

That's.

That's why I was suggesting.

Yeah, bigger monitor.

Okay, so we got Harry Cho. I'm sorry, Harry Chu.

Okay.

I think that's how you pronounce your name. I apologize if that's not correct. He was basically bringing up the fact that if you do buy a Tesla. Tesla, you can charge at home, Right?

Sure.

And then. And you can use the IRS to write off your utility bill, maybe at a percentage. What do you think about that?

Okay, so Harry says, I'm gonna buy a Tesla. And he says the trick is go with the Tesla because I can charge at home. And I'm gonna get that. I can see a little bit here.

Okay.

And he says, and that's. And I'm gonna get this great write off. And I can write off part of my utility bill. Okay, Harry, be careful. Saying the trick is the Tesla. It's the answer to all things, because there's pros and cons here. First of all, Teslas are not cheap. Number two, if your business use is not over 50%, I'm not writing off actual. See, in order to write off the electricity on charging your Tesla, I've got to show that it's over 50% business use. And then I might be able to write off some of those charging fees, but I got to figure out how much is personal and how much is charging and. And all that when. Go back to my rule number seven. Your test is going to put on 10,000 miles. What would the cost to charge that? Now see, I would. Car and Driver did an analysis two or three years ago of what was the equivalent cost in gas to charge my car and go the same 100 miles per gap. Okay, if I was. What was the electricity? Everybody, you're going to love this. What was the electricity cost of $4 for a gallon of gas? What would $4 of charging electricity? On the average cost of electricity, how much would $4 get me in miles? Now, I know Tesla people. You're like, well, I got a free charging station. I get it, I get it. But let's say you paid for your freaking electricity$4. How much, how many miles would you go? Well, the average electric vehicle would go about 100 miles. That was kind of the takeaway from this article in Car and Driver. So I can put in $4 and get 20 miles per gallon, or I can charge for $4 in electricity and go 100 miles in my electric. There's still a cost per se. So, Harry. Okay, so I'm going to charge in my house for $4 to go 100 miles. And let's say you write off that utility bill and you're over 50% business use. Let's just. I'll give you everything you're saying. I'm going to go 100 miles. Okay, what's my write off under mileage? 100 times.655. I got a write off for $65. Now, yeah, my charging at home was totally efficient. That's cool. But for four bucks, I'd rather write off 65 bucks. Now, I see that Harry is saying there's an economical decision here. I can buy a Tesla and charge at home and save money. That's cool. What I'm talking about is what's your tax write off? Where you. Where are you going to write this off? And so I would lean towards mileage. Now, Harry, you also got to be careful because under the new law passed by Biden under the Inflation Reduction act, if you make too much money, you don't get the tax credit on that Tesla. It's got to be a business vehicle electric credit. And if you're not over 50%, you're not getting that either. And so, so for the Tesla may not be the answer for a lot of people. My son bought a Tesla. I thought it was pretty expensive, but he loves his electricity and bill. I mean, saving gas and all that good stuff. And I know Tesla's a tribe, I get that. But just it's not the get all end all when it comes to tax strategy too. Okay, next question.

All right, so we got a question. I have. This is from Corey White. I have a studio across town that I drive to to grab equipment from and then drive to my shoot sites. Can I write off my miles I drive to the studio as well as mil to my shoots?

Yes, absolutely. Now everybody, this is where. Let's go to the whiteboard. Let's say you have a home office. And this is why I like having the home office strategy, even if it's just for a few dollars. And we're going to use you accountants out there, we're going to use the administrative office exception, the admin exception, just to make sure we got a home office to some degree. Whenever I leave to go do business, that's a write off. Ching. Now if I leave, go to my shop or my studio and then go out to a shoot, I'm writing off the whole thing. Boom, boom. Because I'm stopping at the warehouse to get my stuff. If I stop at the post office in my mailbox, I'm writing that off. If I go to Home Depot to pick up some supplies or some new lights, or if I go to Apple Store, if I go to Best Buy or if I'm running errands, I stop and have lunch with a client or a customer. Boom, boom, boom, boom. I'm writing all that off. Oh, but you have a day job too. Oh, so you're going to your day job once a day. Not a write off. You cannot write off the commute to your day job. But going out and about, meeting with your customers and clients and all that, that's freaking all. 100% write off under the mileage method. And you're going to use it and calculate your business use percentage based on your overall total miles. So I love it. Corey, great question.

Next question we have from WRX Drunky. What about if you have two offices? I work half of the time from home and half the time from an office.

Okay, so let's go back to whiteboard. This is a common one. And this face, I face this issue. I have a home office and then I have a Main street office. Okay, we love our Main street term. So when I ever go from my home office to my Main street office, that's commute. I don't even get to write that off. I can't do that. That's commuting. Now if I go to my. Oh, how do I get rid of this thing? What happened? There we go. Now If I go to my shop, I can write that off. And again, if I go through all these things, if I go to the store, if I to buy stuff for the business, Apple, Best Buy, Home Depot, da, da, da, da, da. I'm writing all that off. But when you go between a home office and your main street, if I go to check on my rental property, I'm going to write that off. So. And I go out to, I travel to a conference and I drive there, I'm going to write that off. But going back and forth between my home office and my Main street office, that's a commute, not a write off. There we go. Okay, next question.

Next question is swing from Swing for the Ring. Am I able to split my car between three different businesses? I'm just using mileage format.

Swing for the, for the ring.

Swing for the ring. Maybe baseball or something.

All right. Hey, the question being I've got three different cars. No, no, no. He says between three businesses. Three different businesses, yes. Let's go to our trifecta, everybody. You've been following me forever, hopefully many of you. We've got our trifecta. So we might have an operational business over here, a little side hustle, a little side gig, or maybe a full business. And then you've got an LLC over here with a rental property. Now what's tricky here, Swing to the ring and everybody else, you may have one entity and you've got multiple businesses going into it. That's typically what happens. Swing to the ring. I'm not going to have multiple Schedule Cs, I'm going to get you into an LLC or S Corp, just run them all into one entity. And so you may think you're dividing your mileage amongst all these businesses, but really it's going to be one line item in your parent company. So this is kind of your parent main company. Now for any of you that are like new to this concept, please go to YouTube and try type Kohler Trifecta, Mark Kohler Trifecta. And I teach how to structure this in some basic ways and then you can get more training on that. It's a topic in my book, that tax and legal playbook as well. Now let's say swing to the ring says, well, I've got a rental business over here and I drive over to check on it and da, da, da, da, da. Well, I'm going to write off, yes, I'm going to write off mileage in two places here, number one business and number two business. You may say, well, Mark, I have three businesses. Well, if they all fit it feel in feed into one entity, I'm going to write it off in one spot. Even though you might have multiple operations. But the general answer is yes, you can write off one car in multiple places, but you can't write off the same miles in multiple places. So if I have 10,000 total miles, I can write off two here, four here, one here, and then the. And so I'm at 5,000 miles and then the rest is personal, you know, sort of thing. You can't write off two here to the same two over here. You get. You have to divide up your miles. Great question. Next one, James.

All right, next question is from Carlos Ivan Salas. New entity created last year. Going to opt into the actual method. I'm sorry, Accural method. Accountant is telling us we can purchase a new vehicle within three months of 2023 and backdate it for 2022 to lower 22 taxes.

I. I'd get a second opinion on that. I don't know all the facts. And I don't know that strategy. I have to be honest, I've never even heard of it. And I try to hear everything, but I would double check that. And if you get a second or third opinion and no one's heard of it as well, tell this accountant that's doing it for you. Say, I want it in writing that if I get audited, we're good and you'll pay the penalty or interest. And if they go, oh, well, I'm not going to sign a paper that says, you know, they stand behind what they recommend. Then you tell the accountant, then we're not freaking doing it. Why are you telling me we're going to do it if I don't get the benefit of it? I Love it in 1883. Remember in episode one, if you guys haven't watched it with Tim McGraw and Faith Hill, freaking amazing. 1883. Love it. Sam Elliott's in as well. Excellent first episode. And it's funny, he rolls into town with his wagon and his horses and he goes up to the livery stable and says, hey, I need to house my horses for the month. How much? And the guy's like, well, let's see what you got. So he goes and looks at the wagon and he's like, all this stuff will get stolen by tomorrow, but I'll put it in the back and it's 10 bucks. He's like, well, what the hell am I paying for if it's all going to get ripped off? And he goes, fair enough. 20 bucks and I'll make sure it doesn't get stolen. Okay. You know, but see, accountants, a lot of times they'll say, oh, you can do this and do this and do this. Okay, if I get it audited, do you stand behind it? Oh, well, no. Then what the hell am I paying for? You're not going to stand behind it. Oh, well, here's what you can really do then. Let's do that. You know, so be careful on that back date. Whenever the word back date. I'm not opposed to the word back date. There are some loopholes out there, but I don't know. Accrual method is a tricky one too. You're man most 99% of small business owners on Main Street America are not accrual. So you've got something weird going on there too. And if they're trying to say the word C Corp or a different year end, a fiscal year end, be careful people. That's probably what they're doing. They're saying, we're going to change your fiscal year end. I don't know. Just get a second or third opinion. You can call our law office and talk to one of my tax lawyers for an hour and get a second opinion before you jump off the cliff on that one. By the way, again, I'm going to repeat this for everybody. Please do not listen to any of the comments on Facebook from me or anyone else that refer to some bonus bitcoin piece of crap sales pitch thing. It's a bot. Ignore it. Okay, next question.

Next question is from Jennifer Norman. Can you do both actual on one vehicle and mileage on another in the same business?

Yes, you can. So in my business I could have. I've done this before. In fact, I had three cars. This was a few years ago. What am I doing this year on. I might have a strategy this year for me, but I had three vehicles. I leased a BMW. This was back in the day. I don't lease a BMW now. I leased a BMW and wrote it off in my business had it over 50% business use. We had a car in the family that the family would use for business and I might use and I did mileage on that. And then I had a truck that I bought right before year end for like 20 grand. It was a used F150 and I wrote off the whole damn thing and put that under the real estate business and a little bit of operational. So I was able to write off actual method with a depreciation and 179. Then I did mileage on another vehicle and then I did leasing actual. So you could do all three. So in three different vehicles, same business. Just make sure they're using them for business.

So I got a question from Rob. Can I write off my vehicle or mileage if I use it for volunteer work?

Yes. So for those of you that are doing charitable work, I was a scout master for years and I would take the boys on campouts every month and I would write off the mileage doing all the scouting stuff. Sometimes we drive another state over to go camping. And I was working for Boy Scouts of America per se, as a volunteer. So I take Boy Scouts camping. So I would write off my mileage. Any of you that go to temple or go, you don't get to write off going to church every Sunday, but anything out of the ordinary, volunteer for a 501C3 or church or scouting, whatever that is a write off. Under the charitable deduction, the mileage this year is 14 cents a mile. 14 cents a mile. Here's the drawback. Many of you, millions of Americans are now going with the standard deduction this year rather than itemizing. So if you go with the standard deduction, which this year is 13,008, 50, you then you're not going to do your charitable deduction. That's part of itemizing. Now for those of you that itemizes and you give you tithe or give money to 501c3 or charity, throw your miles in there. Love it. But you got to itemize to get it. Great question.

Next question. We've got. Can I write off, Can I rent an office in a shared business setting, Pay as you go, type office and write it off?

Hell yeah, Kona, I love it. I've done that before. I think here, let's just go whiteboard. I just visually see everything. Visually see everything. That kind of sounds stupid, but I visualize all my strategies. So let's say you've got your home office. Boy, that looked ugly. Okay, so here is my home office. And with the home office, I go get kind of a corporate suite, sometimes what they're called, or corporate share suite, shared office, you know? You know what I'm saying? And it may only be 500 bucks a month or less. And I've done that before and really like it because I can go there for meetings. They might have a boardroom, they might have a presentation room that I get to use for so many hours a month. And a lot of these organizations that have a corporate share suite, they have locations in other cities. So when I'm traveling, I can pop in and use their location, other location, and it goes towards the meeting time over here. So that can work out. But the corporate suite is a total write off because you're using it for business. And if you're not going there every day, that's not commuting because you just use it when you have to. And so I'm going to write that off so I can write off, my liege, to my corporate suite that I use on occasion. You might have a shop again, you might have a studio, you might have your rental. So I want to write off all the mileage I can to all these different locations. Love it off the whiteboard. Next question.

We actually have to wrap it up. We have our next show coming up and I'd love to give away a few books if we can. A little bit of time for that.

Let's give away a couple books of the tax and legal playbook and a couple of financial freedom. Give me four names, people.

Got four names. So we're going to start off with Crypto Ape.

Crypto Ape is a winner. Okay, I'll put these on the whiteboard.

We're going to go with our Tesla friend, Harry Chu.

Harry Chu. Okay.

WRX Drunky.

Wrx Drunk Key. I don't know if I'm spelling this right.

Subaru thing. And then we'll go with Kona.

Kona. All right?

Yes, sir.

Now go to my whiteboard, if you could. If any of you want a book, you email Diane@markjkohler.com and Diane will get you an autographed copy and she'll send that out to you. And diane@markjcohler.com I just want to say to everybody, if any of you want my books, get over to Amazon. It's the easiest, cheapest place to get my books. They'll drop them right away. I've got it on Kindle and audio. I just want to say thank you for being here. Don't give up on your strategies, on your American dream, on your plans. The vehicle deduction is a great one. It's different than travel, is different than meals. It's different than office and supplies. It's just another tool in your toolbox. And if your accountant isn't trying to drag out a big auto expense into your tax return, we need to upgrade. So again, be checking out my website@markjcohler.com I've got a free ebook, 30 Ultimate Tax Tips. And I do regular newsletters every week that are free with tips. Please get over there and deadlines and yada yada. And if you're interested in looking for a certified tax advisor, the network will be populated with new advisors here in the next six to eight weeks. And you can find an advisor to help you that. That's speaking my language. Thanks, everybody. Don't give up. Keep living the dream. And I'll see you next week for another.