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I purchased a business vehicle for $20,898. used, that I am depreciating over several years. The tax question is should I select economic stimulus or not?

Which would be more tax savings. It was purchased in 2014 and I am doing my 2015 taxes. I did not make a lot of money in 2015; therefore, I do not need section 179 deduction, I would rather depreciate over several years.
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1 Reply
PatriciaV
Expert Alumni

I purchased a business vehicle for $20,898. used, that I am depreciating over several years. The tax question is should I select economic stimulus or not?

If you believe you will have more income in future years, it is better to spread the cost of the asset over its useful life (regular depreciation). But if you have more income in the current tax year than you believe you will have in the future, taking Special or Bonus Depreciation in the current year is a better choice.

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