should I take a 179 deduction on my new vehicle this year if my business is showing a loss, or should I take the regular depreciation route I show a profit to my business each year but this year was in a bad car accident so not much income
01536
1 Replies
Carl
Level 15
Jul 17, 2019 5:52:19 PM
If your buiness does not have the *taxable* business income from which to take the SEC179 deduction, then taking it would make no difference in your tax liability. Therefore it would make no sense to take it.