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Investors & landlords
You need to reevaluate your thinking on this.
You are going to elect out of bonus depreciation JUST because it is an addback in Ohio for the initial year?
So this means instead of just paying tax to Ohio at a low state rate, you are now okay with paying federal tax, OK and OH income tax by switching to straight-line?
Once again, you need to run some hypothetical examples to see where you pay the least amount of tax.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
‎August 12, 2021
12:32 PM