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I have a single member LLC. I'm trying to buy a business
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I own a small business and purchased a used car for the
I own a small business and purchased a used car for the business. Am I able to deduct the purchase of the used vehicle?… read more
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I plan on setting up a business beginning January 2018.
I plan on setting up a business beginning January 2018. However, was planning to get a car this year that I would use for the business purposes. The reason I wanted to do that was California has incen… read more
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Lane, Going back to my question yesterday where I am
Hey Lane,Going back to my question yesterday where I am depreciating the vehicle for "its first time". I was noticing the previous tax preparer who did the 2015 return took a "reduction of basis" for … read more
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Our corporation purchased two used vehicles last year and we
our corporation purchased two used vehicles last year and we want to know if we can expense out the total amount paid … read more
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I want to buy a used 2013 Honda Ridgeline ( $23,000 ) for my
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I have an llc construction company that elected to be A sub
I have an llc construction company that elected to be A sub s elect in 2013. I have a large project we are currently finishing And will be collecting approximately 200k at the last week Of this year. … read more
Lane
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I just received a large bonus from my job and I have a
Hello, I just received a large bonus from my job and I have a vacation rental home. A large amount of taxes has been taken out of this check. How could I use some of the bonus money to purchase items … read more
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Question? what is the section 179 amount for passenger
Question ? what is the section 179 amount for passenger vehicles for depreciation for 2015 , is it $3460.00 or more ? my sister purchased a toyota rav 2013 on 09/01/2015 that she use for the business … read more
emc011075
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If you buy a luxory automobile over 6,000 gvw what is the
If you buy a luxory automobile over 6,000 gvw what is the section 179 and depreciation. We may buy a bently valued at $189,750 along with a mercedes at $153,232. What is the 2016 write off… read more
Rakhi Vasavada
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I have a section 179 question. It is simple, but convoluted.
Hi, I have a section 179 question. It is simple, but convoluted. Can you help me? … read more
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I own a partnership. Planning to purchase a vehicle business
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Is the $25,000 associated with the 6,000 lb plus vehicles
For Lane: Is the $25,000 associated with the 6,000 lb plus vehicles part of the total allowed Section 179 deduction? In other words, if I purchase and finance a vehicle that meets the requirements und… read more
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If you finance a 6000 LB or heavier SUV or truck, are you able
If you finance a 6000 LB or heavier SUV or truck, are you able to deduct the entire Section 187 allowed amount in the tax year you make the purchase? Or are you only able to deduct what cash you actua… read more
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My wife and I are the owner of a newly formed business
Hi, my wife and I are the owner of a newly formed business which is still in its early startup stage, i.e. not yet generating revenue. However, we're increasingly spending more time traveling locally … read more
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Auto depreciation computation for 2013 tax return: A new car
Auto depreciation computation for 2013 tax return: A new car $25,xxx (100% business use) was leased in 2009 by a self-employed taxpayer and then the same was purchased in October 2013 at the expiry of… read more
Megan C
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I would like to take advantage of section 179 and purchase
I would like to take advantage of section 179 and purchase a GVW >6,000 vehicle for 75% business use. I own an LLC and file as an S-corp. I plan to keep the vehicle for more than 5 years. Are there… read more
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Lane
JD, MBA, CFP, CRPS
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Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

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