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I need info about the Bonus depreciation for my business. I
I need info about the Bonus depreciation for my business. I am a real estate professional and need to buy a car for business. I thought it could be dollar for dollar write off?… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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I don't understand the section 179 write off for vehicles
I don't understand the section 179 write off for vehicles over 6000 for business purposes. Versus any tax advantages for getting a smaller car under 6000 lbs and using exclusively for business . How m… read more
Dr. Fiona Chen
Dr. Fiona Chen
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2019 depreciation for a full size SUV 1. Company is
2019 depreciation for a full size SUV1. Company is purchasing a new full size SUV for $ 70,000 2. Company has net income of over $ 100,000. 3. No other assets purchased.What amount can the company dep… read more
Fred Rook
Fred Rook
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I am an employed physician w2 and work part time as
Second opinion] i am an employed physician w2 and work part time as contractor 1099, combined i make around 300k a year. how can i lower my taxable income outside 401k and standard deduction?… read more
Rick
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I'm buying a vehicle for my business that weighs over 6000
I'm buying a vehicle for my business that weighs over 6000 lbs. the vehicle will be used for 70% business use. If I understand correctly because of the weight being over 6000 lbs and if this was 100% … read more
Lev
Lev
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Year 2016. I have a 1120s corporation and I made enough
This is for tax year 2016. I have a 1120s corporation and I made enough profit this year to offset section 179 depreciation. I purchased two F350 trucks that are used 100% for business. Each cost $50,… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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Can you write off $50000. on SUV for a 1120S... they carried
can you write off $50000. on SUV for a 1120S... they carried a profit every year............... … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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Self-employed California resident wants to buy Tesla
Self-employed California resident wants to buy Tesla electric vehicle eligible for maximum tax credit. He can buy one barely over 6000 pounds, or one less than 6,000 pounds. The car that is less than … read more
Lane
Lane
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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, MBA, CFP, CRPS
Doctoral Degree
22,682 satisfied customers
Traded in an suv over 6000 pounds, purchased in 2015 and
Traded in an suv over 6000 pounds, purchased in 2015 and took section 179 for 85% business use in amount of $20,938. Traded that in for a car in June of 17. Do I have to recapture depreciation as ordi… read more
Lev
Lev
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Question: Luxury SUV BMW 5 >6000 GWW- Bought in Aug 2016-
Question : Luxury SUV BMW 5 >6000 GWW- Bought in Aug 2016- Brand new dealer SUV with a few thousand miles but never registered under any name. Cost: 50,000 Profession: Physician with main Location … read more
ABC Accounting Group
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Assumptions: purchase a vehicle used 100% and qualifies 179
Assumptions: purchase a vehicle used 100% for business and qualifies for section 179 (SUVs over 6,000 pounds gross vehicle weight) I will be using actual expense method and any accelerated depreciatio… read more
Lev
Lev
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DEPRECIATION -- BUSINESS ASSET. I plan to purchase an SUV in
DEPRECIATION -- BUSINESS ASSET. I plan to purchase an SUV in September or October 2015 that meets the 6,000 pound test. I plan to depreciate it on Schedule C of my Form 1040 (self-employed). Assume SU… read more
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Under IRS Code, Section 179, I can write off $25,000 on the
Under IRS Code, Section 179, I can write off $25,000 on the purchase of an SUV weighing 6,000 pounds or more. Is that correct?… read more
Robin D.
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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
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We are a c profit corporation doing business in Georiga. We
We are a c profit corporation doing business in Georiga. We wish to purchase some fixed assets for our new business by year end. Are there any new depreciation benefits which we can take advantage of … read more
Jacy
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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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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
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