Hello, A couple questions regarding Section 179. Is there an expiration on the recovery period ? Example: a vehicle purchased for $6000.00 and 179 was taken in full. Full vehicle depreciation over 5 years. Would selling the vehicle year 6 result in a...read more
I know that what is paid to a health care sharing ministry in lieu of health insurance does not qualify as a self employed insurance deduction, but does it qualify as a business expense on a schedule c?
I overpaid one quarter of estimated taxes. However the following quarter taxes were low enough that the previous quarter’s overpayment would cover the next quarter’s taxes. Do I still have to make an estimated payment for that subsequent quarter even...read more
I am considered a K-1 employee, so I receive a salary as well as disbursements from the partnership. The LLC would solely be under my name. Let me know if anyone needs any more info. Any insight is much appreciated!
My business partnership purchased a piece of equipment in 2018. With the new tax laws changing, I understand that I can write off the whole price. However I am on an installment plan for 5 years, can I write the whole interest on the item or just wha...read more