It does not have to be new to take "section 179" as long as its a HD truck and is used 50% for business. Bonus is only for new but you would have to be buying a small SUV to capture it. On a small truck/ suv the 179 is capped at 25K and bonus on a new vs used would be $10K Trucks over 6Klbs are 100% write off new or used.
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Originally Posted by Buehler445
He’s probably referring to bonus depreciation that you don’t get with used. That would benefit him if he doesn’t keep it for the 5 year life.
I’m on the other end. My position is industry standard is the business provides agronomists and managers a vehicle that they also drive to and from work. So I’m taking 100% of the bastard and the corporation pays repairs. I’m not dicking around with mileage logs, percentages, allocations, goddamned cluster**** rocket science equations to calculate a couple thousand dollars gain when you trade the ****er off.
Not this ****ing guy. Corporation owns the pickup per industry standard. No sense making something simple complicated to the sake of the IRS.
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