| Depreciation and Recapture : SUV Loophole : Section 179
Hello.
I have an S Corporation of which I am the only member and since I work all the time, I want to buy an SUV and take advantage of the depreciation offered by the SUV Loophole. I actually need an accountant now, because this particular part of the code just totally CONFUSES ME!!!! I'm just not sure what I'm getting into here. It sounds good, but is it really.
If I buy the SUV in September of 2015 for $60,000, I've calculated my first year depreciation as follows (I made a spreadsheet to do it):
Sec 179 DED $25,000.00
Bonus DEP $17,500.00
Reg Dep $3,500.00
Total DED $46,000.00
Adjusted Basis $14,000.00
Are my calculations correct?
Last edited by [email protected] : 04-19-2015 at 11:53 AM.
Reason: I ask too much at one time and from looking at the other threads, it gets confusing.
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