title>Tax Guru-Ker$tetter Letter Wizard Animation

                 

Tax Guru-Ker$tetter Letter
Friday, February 15, 2008
 
Multiple Vehicles For Sec. 179


Q:



Subject: section 179 limits


Hi Tax Guru:


I have just finished reading the 179 entry on your website. Quick question, as a small business owner, can I purchase a new 6000 lb suv every year to qualify for the $25K deduction?


 


A:



Of course you can, if you want that many SUVs.  I used to have a client who traded in his car every six months for a brand new one.

As I've discussed numerous times, there are tax consequences to the way in which the old SUV is disposed of; selling vs. trading.

Your personal professional tax advisor can give you more specific info for your unique situation.

Good luck.

Kerry Kerstetter


 


 

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