In this video, I explain how the section 179 deduction works and the 2020 limits. This is the deduction that people talk about when they’re talking about “writing off your car” or however they talk about it. Basically a business vehicle needs to be depreciated over time but thanks to section 179 and bonus depreciation, the full value of the vehicle can be depreciated in the first year of purchase.
#IRS #section179 #bonusdepreciation
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Section 179 Deduction 2020
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