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cgcrump2
New Member

I owe taxes company sale, will owe capital gains on the whole $1MM Could I purchase a car wash for $1MM bonus deprec the full amount in thus emliminate taxes on the $1MM

 
2 Replies

I owe taxes company sale, will owe capital gains on the whole $1MM Could I purchase a car wash for $1MM bonus deprec the full amount in thus emliminate taxes on the $1MM

see a tax pro who can go over your situation.  part of the purchase price may not be eligible for bonus depreciation - the land, goodwill, and other items. 

I owe taxes company sale, will owe capital gains on the whole $1MM Could I purchase a car wash for $1MM bonus deprec the full amount in thus emliminate taxes on the $1MM

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