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      01-03-2018, 02:07 PM   #133
Frank_NJ
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Originally Posted by aas5 View Post
Under the new act, you get to deduct 100% of the purchase price in year of acquisition for any new or used tangible depreciable property vs. 50% under the old law. "Used" means original use of the property need not commence with acquiror but may not be acquired from related person or in a non-taxable transaction. So a big improvement in tax benefit if you can use your car for business.
That is what my accountant explained to me when we were standardizing the other night. I will be taking advantage of this for tax year 2018.
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      01-04-2018, 10:05 PM   #134
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Guy with the 20's doesnt look quite as happy as the others with the 21's.



Just kidding. All look great. Congrats. Use in good health.
Lol! The funny thing is that in this photo the 20's actually look bigger than the 21's.

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      01-05-2018, 01:31 AM   #135
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No , it's because of the perspective ...
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      01-05-2018, 01:41 AM   #136
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No , it's because of the perspective ...
No, exactly.
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      01-05-2018, 06:22 PM   #137
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Originally Posted by Frank_NJ View Post
That is what my accountant explained to me when we were standardizing the other night. I will be taking advantage of this for tax year 2018.
Quite a change for the better with 179 for sure. Now I don't need an F-250 just to get the full deduction. Seems like it's time for an X5M in 2018.
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      01-07-2018, 09:37 PM   #138
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Quite a change for the better with 179 for sure. Now I don't need an F-250 just to get the full deduction. Seems like it's time for an X5M in 2018.
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      03-25-2018, 12:00 PM   #139
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Quite a change for the better with 179 for sure. Now I don't need an F-250 just to get the full deduction. Seems like it's time for an X5M in 2018.
What's the maximum tax benefits; is it $25K or more?
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      03-25-2018, 07:07 PM   #140
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Whaaaaat! Section 179 applies to pre-owned vehicles now! I could've got a used X5M and joined all you guys this year
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      03-27-2018, 09:07 PM   #141
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Quote:
Originally Posted by MRCUR View Post
Quite a change for the better with 179 for sure. Now I don't need an F-250 just to get the full deduction. Seems like it's time for an X5M in 2018.
What's the maximum tax benefits; is it $25K or more?
$25k plus 100% bonus, so $50k. At least I think - not totally clear if the SUV cap still applies.
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