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I just finished a tax for a truck driver and a I wanna make
hi..I just finished a tax for a truck driver and a I wanna make sure I did it correctly.I have been asking this a few times now but I am still a little bit confused.When I jump for depreciation this i… read more
emc011075
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If I bought the truck in 2016, payed 280 000 and I am
If I bought the truck in 2016 , payed 280 000 and I am filling tax year 2016 how can I depreciate it?… read more
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New accountant notice that the prior accountant deducted as a section 179 deduction back in 2015 for a Ford F450 truck with a gvw greater than 6000 pounds $11,460. Then in 2016 deducted $5600 and in 2… read more
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I purchased a semi-truck in Dec 2017. Found out it needed
Hi, I purchased a semi-truck in Dec 2017. Found out it needed lots of repairs. Gave up and sold it at a loss in 2018. Can I take the full deduction or does this go under depreciation. I have another s… read more
Lev
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We bought a used semi truck Sept 22, 2011, and of course,
Hi, we bought a used semi truck Sept 22, 2011, and of course, have been deducting expenses rather than using the standard mileage. The truck essentially blew up in 2016 and we sold it for parts. How d… read more
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I am trying to launch an e-commerce site. I purchased
Hello, I am trying to launch an e-commerce site. I purchased inventory much too early before launch. How often can a business owner keep rolling their inventory over from year to year as a tax advanta… read more
Lev
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We are starting both a Bed and Breakfast out of our home, as
We are starting both a Bed and Breakfast out of our home, as well as a catering business to support the B&B and other functions. Our total revenue is expected to be in the area of $$200,000 Question i… read more
Mark Taylor
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I have a vehicle I converted from personal to business at
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emc011075
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I just want to properly depreciate 2 pieces of office
Hello. I just want to properly depreciate 2 pieces of office furniture I bought in 2015 and put it in correctly on form 4562. Can you help me with that?… read more
PDtax
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How can it be that one program (CSA from Thomson Reuters)
How can it be that one program (CSA from Thomson Reuters) and another program (Quickbooks for Accountants 2016) tell me different numbers for depreciation of a 2016 F-250 just bought in Oct 1, 2016?… read more
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I created an S corp in 2014 and used personal money to buy
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1120 S going to buy a new business vehicle, work van about @
1120 S going to buy a new business vehicle, work van about @ $74000.00 what would be the depreciation method and amounts per year and/or what would be sec 179 for 2015 and then balance of the asset li… read more
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I am a renter. The AC unit was purchased, according to the
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I am a truck driver and drove someone else truck during 2014.
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A new business begins operations on 10/13/2010. All assets
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RD
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I need to caculate depreciation on our semi-truck. I had a
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Gerri A Harrison CFP EA
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Debra acquires the following new assets durring the current
Debra acquires the following new assets durring the current year Date Asset cost april 11 furniture 50,000 July 28 Trucks 30,000 november 3 Computers 60,000 determine the cost recovery for current yea… read more
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1. Sawback Corporation purchases a new machine in July 2008
1. Sawback Corporation purchases a new machine in July 2008 for $200,000. No other fixed assets are placed in service in 2008. Sawback has substantial taxable income and desires to minimize this amoun… read more
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