in [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill
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Yes, if the vehicle qualifies, you must also take actual expenses when claiming Section 179. It must be in the first year the vehicle is placed into service. Also, if you ever want to claim the Standard Mileage rate, that must be claimed in the first year the vehicle is placed into service. You cannot claim Section 179 and the Standard Mileage rate.
Yes, if the vehicle qualifies, you must also take actual expenses when claiming Section 179. It must be in the first year the vehicle is placed into service. Also, if you ever want to claim the Standard Mileage rate, that must be claimed in the first year the vehicle is placed into service. You cannot claim Section 179 and the Standard Mileage rate.
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