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If i purchase a "heavy" pickup used this month for business…

If i purchase a...

If i purchase a "heavy" pickup used this month for business purposes or at least 50% business will it help with my taxes? sect 179?

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Answered in 4 minutes by:
12/15/2017
Carter McBride
Carter McBride, Financial Advisor
Category: Finance
Satisfied Customers: 1,275
Experience: Adjunct Professor
Verified
Hey! I'm Carter, I'm a CPA and would be glad to help with this.
Yes, heavy vehicles do not have the limitations normal vehicles do. So, you can take bonus depreciation on 50% of the cost of the vehicle and then 179 the remaining basis in the vehicle. That will reduce your taxable income by the cost of the heavy truck.
Let me know if you need anything clarified. If not, please leave a rating. Thanks!
Carter McBride
Carter McBride, Financial Advisor
Category: Finance
Satisfied Customers: 1,275
Experience: Adjunct Professor
Verified
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Customer reply replied 7 months ago
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