ilmscore | Prediction Details
"and you could take bonus depreciation in year one it used to be 100% but now it's phased out to about 80% so if the vehicle cost you $50,000 you can take 80% of that as a deduction in year one and then capitalize the rest over 5 years"
By Minority Mindset | April 22, 2024 | Pending
From video
ACCOUNTANT EXPLAINS: How To Pay Less Taxes | Khalil Dabaja x Jaspreet Singh 00:15:17 - 00:15:31
Interpreted Prediction
Bonus depreciation allows for an 80% deduction of a vehicle's cost in the first year (down from 100%), with the remainder capitalized over 5 years. For a $50,000 vehicle, this means an $40,000 deduction in year one.

Prediction Details

Topic
Bonus Depreciation (Vehicles)

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