Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
I own a house (mortgage is about $3,700 of which $1,200 is
I own a house (mortgage is about $3,700 of which $1,200 is tax and about $1,400 is interest). I am thinking about renting out the house (expecting to get about $3,700).Q) What are the differences in t… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
My question is regarding depreciation for a car/truck using
my question is regarding depreciation for a car/truck using an actual expense method. My business is a single member LLC.my question is do i absolutely have to have a mileage log ?? my car is 100% use… read more
Barbara
Barbara
Enrolled Agent, Paralegal
14,994 satisfied customers
Im considering purchasing an SUV (over 6,000 GVWR) and lease
Hello...im considering purchasing an SUV (over 6,000 GVWR) and lease it to my LLC S-corp. Since I am purchasing it personally, am I able to also take the Section 179 deduction in addition to the compa… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,882 satisfied customers
I have questions regarding 179 deduction for LLC with
i have questions regarding 179 deduction for LLC with multiple partners.If I purchase suv under my individual name will I be allowed to take 179 deduction.For the standard mileage I usually just turn … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
4,994 satisfied customers
Just Answer, I have a question concerning Sec 179 expenses
Hello Just Answer, I have a question concerning Sec 179 expenses and want to see if I have something right. I've got a tax client (husband and wife) who own an LLC with an S-Corp election. Can the S-C… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
4,994 satisfied customers
This question is in regard to Sec 179 purchase of a vehicle
This question is in regard to Sec 179 for the purchase of a vehicle with a husband and wife business. Background: Husband is the 100% owner of an LLC taxed as an S-Corp and a single member LLC. The wi… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
We have a small business and would like to purchase a new
we have a small business and would like to purchase a new SUV gross vehicle weight over 6000 lbs. we would use it 90% for business. If we buy the vehicle in December 2015 vs. January 2016, would the d… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
I have an S corp. Our profits are rising this year and I am
I have an S corp. Our profits are rising this year and I am looking for expenses to reduce taxable income. Can the S corp buy a car, then lease it to me? It would be titled to the business and insured… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,882 satisfied customers
I own my own business and bought an SUV in 2013 that weighs
I own my own business and bought an SUV in 2013 that weighs over 6000 lbs. I did the Sec. 179 write off of $25,000 on last years taxes. I would like to trade in this vehicle for a new Suburban before … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Could a passenger car (less than 6,000.) bought at a completion
Could a passenger car (less than 6,000.) bought at a completion of a 3 years lease be depreciated under section 179 (3 years old car at the year of buyout / purchase) on a C-Corp tax return. If so cou… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,882 satisfied customers
I am a sole proprietor LLC. I own a Ford Explorer SUV on the
I am a sole proprietor LLC. I own a Ford Explorer SUV on the business that I bought 2 years+ ago that I owe $27.5K on. I own two personal vehicles outright. I am planning on buying a new personal vehi… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
I am a sole stockholder of an S Corp. I want to get a new
I am a sole stockholder of an S Corp. I want to get a new SUV car. I was planning on leasing it through my S Corp for 36 months. Then personally buying it at the end of the lease. This way additional … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
I have an S corp, its a computer consulting /staffing business.
I have an S corp, its a computer consulting /staffing business. I am wondering if I can buy a comapny vehicle and write it off for 2012 tax year. I really do need a good vehicle to go and meet clients… read more
Phillip B, EA
Phillip B, EA
Tax Advisor
Bachelor's Degree
1,326 satisfied customers
I have a couple corporations and run a business, I am getting
I have a couple corporations and run a business, I am getting a lot of business income in the next few days and wonder about reducing my taxes by buying some equipment. I am an investment advisor so I… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
I am a 50% partner in an LLC which is my primary income source.
I am a 50% partner in an LLC which is my primary income source. I am considering buying a new car. The car will be used for business for more than 50% - AND I am considering SUV that weighs more than … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
The owner of the company wants to buy a new car. I was ...
The owner of the company wants to buy a new car. I was told I could expense $17,000 of the cost. Then someone else said the threshold was $15,000, someone else said $20,000. Which is it? What I''m pla… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
Company Car write off - New verses Used @20,000 miles a ...
Company Car write off - New verses Used @20,000 miles a year will be driven - green certified / minimum emissions met what is the best direction to go? Bill… read more
RD
RD
Self Employed
Master's Degree
5,572 satisfied customers
If you are s corp what is the best way to purchase a ...
If you are s corp what is the best way to purchase a company auto for the best tax break buy vs lease. buy the auto under the corp name or buy personal and let the company pay owner back for auto expe… read more
RD
RD
Self Employed
Master's Degree
5,572 satisfied customers
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.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

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.

Show MoreShow Less

Ask Your Question

x