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I am a W2 employee and also a Medical Consulting LLC Scorp
I am a W2 employee and also a Medical Consulting LLC Scorp business. I interested purchasing a new vehicle for work and was going to do so under the Scorp. I am also purchasing a vehicle over 6000 lbs… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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Master's Degree
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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
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Doctoral Degree
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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, CFP, MBA, CRPS
Doctoral Degree
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I'm self employed, thinking about buying a heavy duty truck
I'm self employed, thinking about buying a heavy duty truck ( that will be used for business 75% of the time, and have been told that I can deduct $50k off of my taxes for doing so. If I do that, will… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
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I have a rather simple question to ask about the Section 179
Hello, I have a rather simple question to ask about the Section 179 deduction. My wife and I operate a landscaping company(S Corp), that just purchased an F350 Superduty truck for approximately $45,00… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
15,502 satisfied customers
I had questions about Section 179. We just opened up our
Hello! I had questions about Section 179. We just opened up our business in California about 4 months ago and have generated about $200,000 in profit. Is it safe for us to purchase a large company veh… read more
emc011075
emc011075
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We live in California. My husband is self employed. I am employed
We live in California. My husband is self employed. I am employed by a different company. I want to understand how our income taxes will be calculated with some example numbers. He does our file retur… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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I bought a car in 2011 and I wrote it off as a business expense,
I bought a car in 2011 and I wrote it off as a business expense, it should've been 100% written off but for some reason he did a 3 yr depreciation on it. Could I buy a new vehicle that is over 6,000 l… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
15,502 satisfied customers
I have a day job and a side dba job.... Daytime truck driver
I have a day job and a side dba job.... Daytime truck driver for a company self employed welder on the side... I've been putting money from my truck driving job back into the welding business supplies… read more
Lane
Lane
JD, CFP, MBA, CRPS
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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 own my own goods transport business. My current truck is
I own my own goods transport business. My current truck is too small and on it's last leg. I need to buy a new or used truck weighing around 10,000 lbs. I need to know the last day I can purchase to g… read more
Tax.appeal.168
Tax.appeal.168
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I am an employee of a company and have a small scorp on the
I am an employee of a company and have a small scorp on the side. The scorp unexpectedly got a chunk of money in September. My salary as an employee is very low and I want to make sure my social secur… read more
R. Klein, EA
R. Klein, EA
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Master's Degree
4,670 satisfied customers
I work for my brother in his construction business. I am self
I work for my brother in his construction business. I am self employed is the way it is set up for tax purposes. I'm looking to buy a truck for work so that I can pick up materials, haul stuff etc and… read more
PDtax
PDtax
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5,187 satisfied customers
I am trying to take advantage of the 100% bonus depreciation
I am trying to take advantage of the 100% bonus depreciation 2011 tax break. I have a truck that i own in my name that i want to trade in, but and buy a new truck for 2011. i cannot finance it thru my… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,448 satisfied customers
Lets consider I have got a Job of 100k/year, which Im planning
Let's consider I have got a Job of 100k/year, which I'm planning to take on my S-corp. My question is can I outsource it to other company X, work for that company full time and pay them 70k out of 100… read more
William Ellis, CPA
William Ellis, CPA
Master's Degree
232 satisfied customers
I own a landscaping business. I bought atruck for $43,460 in
I own a landscaping and snow[ plowing business. I bought a truck for $38,160 in October 2009. (used 100% for business) The GVWR is 9200 pounds. Publication 946 page 20 says I can deduct $25,000 under … read more
JKCPA
JKCPA
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Bachelor's Degree
4,666 satisfied customers
If my boss buys a truck for me to use and advertise with, ...
If my boss buys a truck for me to use and advertise with, can he write off the entire amount in a deduction? (7100 lb Tundra) How long does he have to own it before he can sell it?… read more
Wayne Brasch
Wayne Brasch
Accountant and Business Consultant
Master Degree
718 satisfied customers
I have a home child care business...and file my taxes as a ...
I have a home child care business...and file my taxes as a sole proprietor. Can I buy an over 6000 lb. GVWR SUV...and depreciate it from the income I earn in my business?… read more
Wayne Brasch
Wayne Brasch
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Master Degree
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