Quote:
Originally Posted by TaxGuru  Correct, all of these deductions are allowable but prorated againts the business percentage use.
Now, for the depreciation deduction, the depreciable amount is reduced by the $25,000 that was expensed and the balance is then depreciated over the allowable period which is 5 years. |
Hi,
Another question, What is the best way to change the vehicle. If one is already in S-Corp name. I have a vehicle under S-Corp. But want to change this vehicle with another one. What will be best way to proceed. Trade in or Sell individually and buy another one.
Thanks
