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I own a small business. My question is I'm in need of a new
I own a small business. My question is I'm in need of a new truck and I wanted to know if purchasing a vehicle (That fit's in the section 179 deduction) would apply / be a good idea before the end of … read more
Alexander Efros
Alexander Efros
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Masters of Business Administration (MBA)
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I travel around for events and I was wondering if i pay $30
Hello, I travel around for events and I was wondering if i pay $30 000 cash for a minivan, could I write off $30 000? Is it a tax deduction? I have a small car to get around and minivan would only be … read more
James Daloisio
James Daloisio
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I run a one truck trucking company. If I purchase another
I run a one truck trucking company. If I purchase another truck this year can I do a Sec. 179 write off on IT? … read more
Lane
Lane
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Doctoral Degree
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Our small business is S Corp. If we purchase a new vehicle
Hello. Good morning.Our small business is S Corp. If we purchase a new vehicle 100% use in the company, should I write the cost of purchase off as an expense and also enter it in as a vehicle asset de… read more
Barbara
Barbara
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I have a small businesss, sole owner LLC and am looking to
I have a small businesss, sole owner LLC and am looking to reduce my tax liabilities for this coming year. I was wondering if i purchased a SUV over 6000lbs that is also a hybrid.. Can i claim both th… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
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3,915 satisfied customers
I have a question about section 179 and vehicles. We are
We are looking to purchase a vehicle for use in our business. I am trying to figure out if the Ram Promaster 1500 City qualifies for the 179 deduction. The Ram website says it does, but the GVW is under 6,000 pounds so it seems like it wouldn't. Also want to know the impact on my taxes and whether or not it is worth it to go for a bigger vehicle. … read more
Lane
Lane
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Doctoral Degree
17,227 satisfied customers
I had a question about section 179 for small business. I
I had a question about section 179 for small business. I want to open an electric car rental company and use section 179 to help me buy the cars needed to start my company. how do I qualify for it? I … read more
Matthew Breecher
Matthew Breecher
President
MBA (Graduate Legal Studies)
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I am a small business owner and I am thinking of purchasing
Hi, I am a small business owner and I am thinking of purchasing a newer vehicle for business use. Just wondering how much I can write off on my taxes for the next 5 years? I am looking at purchasing a… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
17,227 satisfied customers
I am looking to buy a truck for my sole prop business. I
I am looking to buy a truck for my sole prop business. I already bought a cargo van earlier this year. Both vehicles are used 100% for the business. Is there a way I could write off one of the vehicle… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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Section 179 vehicle purchase. Can I put a divider behind the
Section 179 vehicle purchase. Can I put a divider behind the drivers seat in a suburban to meet the requirement that the cargo area not be easily accessible from the driver compartment. My tools get f… read more
PDtax
PDtax
Owner
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Lev You answered questions regarding section 179 corp and
LevYou answered questions for me regarding section 179 for S corp and business vehicle. Around December 2015. You may remember.I know the section 179 limits for business vehicle have not been released… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I am a sole proprieter of a small business in it's first
I am a sole proprieter of a small business in it's first year. I purchased a commercial use vehicle using money that a family member provided ($15,000) and used about $5,000 of savings to make repairs… read more
Robin D.
Robin D.
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A small company plans to purchase some equipment and SUV in
A small company plans to purchase some equipment and SUV in December 2014 for claiming 179 section. How can we define "small company" eligible for 179 section? and would you give me the specific limit… read more
Barbara
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I'm buying a car tomorrow and want to know whether to purchase
I'm buying a car tomorrow and want to know whether to purchase it from my business or personal account (I'm a sole proprietor and want to deduct as much as possible from the purchase in the 2014 year)… read more
Lane
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What bills or extra payments small business can pay at the
What bills or extra payments small business can pay at the end of the year( to include them in that year's expenses) ? I am trying to understand what would be a smart way to handle expenses tax wise a… read more
CGCPA
CGCPA
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3,815 satisfied customers
Here is a question about 2011 depreciation. The numbers are
Here is a question about 2011 depreciation. The numbers are hypothetical but the plan is real: I run a small one person business. My heavy SUV is the main asset, it was purchased in December of 2005 a… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
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can i deduct depreciation for an rv used fulltime for business
can i deduct depreciation for an rv used fulltime for business? Is it 100% write off? is there any additional depreciation this year? Can I write it all off the first year? can i take it over several … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
32,415 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
Ed Johnson
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