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Sec 179 for 2 Cars
Today TaxMama hears from Pam in the TaxQuips Forum, with a good question. “1 purchased 1 new vehicle in 2010 that is used for both of my businesses (Sch C). How do I allocate the new vehicle Sec 179...
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Bonus Depreciation
Today TaxMama hears from Scott in the TaxQuips Forum with this question. “How long would you have to keep a business vehicle to take advantage of bonus depreciation deductions? What if I sold a new...
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Timing of Purchase
Today TaxMama® hears from Insha in the TaxQuips Forum with this question. “I run a daycare center in my home. I file a Schedule C on the cash basis. In February 2011, I bought an asset for my business...
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