Understanding IRS Section 179 Deduction (Ultimate Guide)
Understanding IRS Section 179 Deduction (Ultimate Guide)
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How Section 179 Works for Car Tax Write Off 🤯 If your vehicle weighs over 6,000 Ibs (GVWR) and is used 50% for business, you can deduct up to $31,300 of the cost in the first year - plus bonus depreciation on (potentially) the rest of the cost. That’s why you see so many business owners driving G-Wagons, Escalades, and big trucks Reminder: Must be for business purposes 50% or more - or the IRS might come knocking! #taxwriteoff #taxtips #section179 #personalfinance #cadillacescalade | Josh Rinco
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