High-earning W2 employees often face substantial tax liabilities due to their elevated income levels. American Asset Management Corp specializes in strategic tax planning to help these clients reduce their taxable income through innovative solutions like Turo rentals combined with 100% bonus depreciation. Here’s how we can assist:
 

• Leveraging Turo Rentals for Income Diversification
  Turo, a peer-to-peer car-sharing platform, allows clients to generate rental income by listing their vehicles. This side business can create a legitimate source of revenue while opening the door to powerful tax-saving opportunities. Our firm guides clients in setting up and managing their Turo rental business to ensure compliance and maximize tax benefits.

• Utilizing 100% Bonus Depreciation
  Under current tax law (as of July 2025), 100% bonus depreciation allows businesses to immediately deduct the full cost of qualifying assets, such as vehicles used in a Turo rental business, in the year they are placed in service. For high-earning W2 employees, purchasing a vehicle for Turo rentals (e.g., a luxury or in-demand car) can generate significant tax deductions. For example:

  • A $60,000 vehicle purchased for Turo rentals could yield a $60,000 deduction in the first year, assuming it meets IRS requirements (e.g., used at least 50% for business purposes and over 6000lbs). Even vehicles under 6000lbs are eligible for bonus depreciation (though at a reduced rate)

  • This deduction can offset W2 income, potentially reducing taxable income by tens of thousands of dollars.

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• How  American Asset Management Corp adds value

  • Strategic Asset Selection: We advise on selecting vehicles that qualify for bonus depreciation (e.g., new vehicles or used vehicles meeting specific criteria) and align with Turo market demand to maximize rental income.

  • Tax Optimization: We ensure proper documentation of business use (e.g., mileage logs, rental records) to substantiate deductions and comply with IRS rules.

  • Entity Structuring: We recommend the optimal business structure (e.g., LLC) to protect personal assets and streamline tax reporting.

  • Comprehensive Planning: Beyond bonus depreciation, we explore additional deductions (e.g., maintenance, insurance, marketing) and other tax strategies to further reduce your tax burden.

  • Compliance and Audit Protection: Our team ensures your Turo rental business adheres to IRS regulations, minimizing audit risks while maximizing deductions.

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Next Steps
Contact  American Asset Management Corp for a consultation to assess your W2 income, evaluate the feasibility of a Turo rental business, and develop a tailored tax strategy. Let us help you turn your vehicle(s) into a tax-saving powerhouse while generating passive income.