Section 179 $25,000 SUV Deduction
Hello and thank you for such a great tax resource.
I purchased a used SUV for $25,000 this year.
I will use it 100% for business use this year.
Next year and the following years I may use it for business 75% to 85% of the time.
What will happen if I take the full $25K Section 179 SUV deduction this year; and then... Next year I use it only 80% for business use?
Will I then owe taxes?