deehagan
Sep 28, 2010, 07:45 AM
When bookking the cost of a vehicle do you add doc fees, sales tax, tag fee, etc. to the cost, or are there items expensed?
hamzashakaa
Sep 30, 2010, 12:48 PM
Sales taxes and insurance to cover the asset during shipment should be capitalized. I don't know what is meant by doc fees and tag fees. But you should keep in mind that vehicle license fees and accident insurance should be expensed because these types of expenses are normal, recurring expenses that do not add lasting value to the vehicle.