ilmscore | Prediction Details
"vehicles are written off over 5 years leasehold improvements like the moldings that you see here are written off over 15 years so if I buy $50,000 car yes right and I was going to write off 100% of the car I can't take a $50,000 like if I made $100,000 this year I bought a $50,000 car I can only take a $10,000 deduction this year $10,000 next year $10,000 after that is that what you're saying unless you tap into bonus depreciation in Section 179"
By Minority Mindset | April 22, 2024 | Pending
From video
ACCOUNTANT EXPLAINS: How To Pay Less Taxes | Khalil Dabaja x Jaspreet Singh 00:14:13 - 00:14:37
Interpreted Prediction
Business vehicles are typically depreciated over 5 years. A $50,000 car purchase may only allow a $10,000 deduction in the first year, with subsequent deductions spread over the following years, unless bonus depreciation or Section 179 is utilized.

Prediction Details

Topic
Business Asset Depreciation (Vehicles)

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