Client has a custom auto parts business earning 3M in gross sales and about $600,000 in net profit.
I see around me that all of the custom shops have monster trucks and similarly valuable collectables, etc. They are in their showrooms and they go to all of the car events - promoting their brands.
The client insists that it is 100% business use and the family has two other cars for everyday personal use (well, actually, he has a truck that is partial business use, with logs, etc).
Sounds OK, I guess, but I can't help but suspect that there is an element of personal/recreation going on here and I just wanted some experienced opinions.
Do you take 100% business-use for the hot rod?