Used Vehicles Qualify For Section 179
Posted by taxguru on December 8, 2003
One of the most common questions I am still receiving is whether the Section 179 expensing election is only available for the purchase of brand new assets or whether things such as used vehicles qualify. The answer is still the same. The asset just has to be new to you. You can claim the deduction for items purchased from anyone other than yourself or an entity controlled by you, such as a closely held corporation.
Sorry, the comment form is closed at this time.
Tax Guru - Ker$tetter Letter 