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If a pick up truck was purchased used in 2014. What is the
If a pick up truck was purchased used in 2014. What is the maximum depreciation (regular, bonus, Section 179 etc...) I can take on the truck assuming vehicle weight is over 6500 lbs? It was purchased … read more
Fred Rook
Fred Rook
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Re: Own Sch C plumbing business. Had two old trucks 2017. In
Re: Own Sch C plumbing business. Had two old trucks 2017. In prior year tax returns I simply deducted my miles that's all. I traded-in one of my old trucks and bought a slightly used 2017 Truck for a … read more
James Daloisio
James Daloisio
Attorney
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Lane, If a truck over 6,000 pounds was placed in service on
Lane,If a truck over 6,000 pounds was placed in service on 2/28/2017 what is the maximum depreciation that can be taken in the first year assuming s179 and bonus are taken?… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,799 satisfied customers
Do you know if a 2018 Toyota Highland Hybrid with 6270 lbs.
Do you know if a 2018 Toyota Highland Hybrid with 6270 lbs. GVWR would qualify for a Sec. 179 expense deduction this year? … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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I have a question about tax 179. I want to know whether
Okay I want to know whether there is a limitation other than weight when it come to tax 179 and business vehicle purchase. … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
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I have a quesiton CPA here are the details: -I Purchased
Hello I have a quesiton for a CPA here are the details: -I Purchased an SUV for my company in 2015 , it has 6001+ gross vehicle weight rating, it has been used for 100% buisness purposes in 2015, purc… read more
Lev
Lev
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Is the depreciation limit on an auto purchased in 2015 &
Is the depreciation limit on an auto purchased in 2015 & used more than 50% for business still 3,160 or did it increase with the tax legislation passed last week?… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,799 satisfied customers
I own an llc (sole owner) and am looking to purchase an SUV
I own an llc (sole owner) and am looking to purchase an SUV by the end of the year under section 179 for depreciation purposes. When I go to purchase the car do I need to have the business name on the… read more
Phillip B, EA
Phillip B, EA
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My business purchased a new Tahoe (SUV) in 2011. GVW over 6000
My business purchased a new Tahoe (SUV) in 2011. GVW over 6000 lbs. I don't believe 280F applies Can I take the special depreciation allowance IRC 168(k) and deduct it all. Or am I limited to 25,000 S… read more
Stephanie B.
Stephanie B.
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what is the maximum deduction for a business that purchases
what is the maximum deduction for a business that purchases a heavy-duty 100 percent business suv that weighs more than 6000 lbs. gvw in calendar year 2102?… read more
PDtax
PDtax
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Thank you for your previous answer. I would like to ask you
Thank you for your previous answer. I would like to ask you about section 179 deduction. I am planning to buy large cargo van (over 6,000 lbs GVW) which will cost my business $41,630.00. will I be abl… read more
geedubya55
geedubya55
Owner
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Can I take a 100 percent write off for my business on a used
Can I take a 100 percent write off for my business on a used SUV with a gross pay load of 6000lbs. or does it have to be a new SUV?… read more
geedubya55
geedubya55
Owner
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Does a used 2008 vehicle that exceeds the GVW of 6,000 pounds
Does a used 2008 vehicle that exceeds the GVW of 6,000 pounds qualify for the $25,000 depreciation or the vehicle has to be brand new?… read more
Lev
Lev
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Bachelor's Degree Equivalent
27,933 satisfied customers
I recently purchased a car for my sole proprietor business
I recently purchased a car for my sole proprietor business for $9,000.00, paid $750.00 in taxes, $150 to register the car and put a commercial advertising wrap on the entire car for a cost of $3000.00… read more
Ed Johnson
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If you lease a new vehicle that is 6000 lbs or more, will this
If you lease a new vehicle that is 6000 lbs or more, will this qualify for the $25,000 one time tax write off?… read more
Ed Johnson
Ed Johnson
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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
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about section i have some c corporate profits i m looking
About Section 179. I have some C corporate profits I'm looking to reduce by purchasing a few new corporate vehicles. What exactly is the rules regarding SUV's? Actually what I'm looking to do is purch… read more
Jon Andrews
Jon Andrews
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I heard this is the last year to get a $25000 tax credit ...
I heard this is the last year to get a $25000 tax credit for placing a 6000+ GVW truck into service for my wife's business. is that correct, and does it have to be a brand new truck, or can we acquire… read more
Christopher Phelps
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