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Remember, vehicles over 6,000 lbs qualify for immediate business tax deductions(vs depreciating it over many years) because they're treated as heavy equipment.
by 01100011 4y ago
Remember, vehicles over 6,000 lbs qualify for immediate business tax deductions(vs depreciating it over many years) because they're treated as heavy equipment. https://nypost.com/2022/03/02/tax-deductions-of-the-rich-g-wagons-wine-dinners-guard-dogs/ https://nypost.com/2022/03/02/tax-deductions-of-the-rich-g-w...
- chmod600 4y agoWhy isn't heavy equipment depreciated?
- sokoloff 4y agoIt's a tax policy designed to stimulate economic activity. (I'm not saying it's good vs bad, just that that seems to be the overall design. If you want to spur investment in new tractors [and employment at John Deere], make tractors eligible for section 179 expensing in the first year, which helps the businesses cash flow [and the government still gets its tax money in later years, when the deduction is $0 for that vehicle instead of a portion as it would be if spread out over multiple years])
- occz 4y agoThat should probably be repealed.