I am starting an LLC this month and I plan to purchase an SUV (6000+lbs) in December.
- Do I need to be in business the entire year to qualify for the entire Section 179 with bonus depreciation deduction? Or would it be prorated since I started in May?
- If the SUV is purchased in December, and it's used 80% for business, can I still deduct 80% of the value even though it was only in service for a month (December) and I haven't been in business the full year? How does that work?
