This is the Ramsey Call of the Day, part of the Ramsey Network.

Joining me today is Ramsey personality, Rachel Cruz.

Mark starts off this hour in Chattanooga.

Hey, Mark, welcome to the Ramsey Shep.

Hey, how you doing?

Better than your phone. What's up? That's better, Mark. Yes, that's better.

Sorry. So my question is, I'm doing baby steps. I'm on number two. I'm self-employed. It's just me,

sober prior, and my accountant is telling me that I'm on track this year to end up on the IRS between five and six green. He's saying if you're thinking

about buying a truck for your business, this is the time to do it, so you will have that as a

ride off instead of paying it into the IRS. But he doesn't really explain it in a way that I can understand it.

He's a good accountant, but he can't explain anything very well.

So is this a good move or not?

That's a great question.

Were you planning on buying a truck, Mark?

Not really.

I have a truck.

It is getting old, but it's still good enough.

Okay. Mark, I've got really bad news. You need to fire your accountant.

He's an idiot. Okay. Let me tell you why he's an idiot. Here's the math. If you buy a $30,000 truck and ride it off over three years, you get to write off $10,000 a year. If you're in a 25% tax bracket, that saves you $2,500 in taxes in year one, two, and three.

Okay.

And so you just wrote a $30,000 check to offset a $2,500 expense.

And oh, by the way, you have a $5,000 expense. So you have to buy a $60,000 truck to offset 5K this year.

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