How assets paid for irrelevant to Section 179
Posted by taxguru on May 21, 2008
Q:
Kerry if I finance the tractor will I still. Get same write off.
A:
Both the Section 179 expensing and depreciation deductions have nothing to do with how the new asset is financed. It is the exact same deduction whether you pay cash or take out a loan.
The only difference will be no interest expense deduction for a cash purchase.
Kerry
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