ramraor
Level 2
03-30-2022
02:16 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
FIRST YEAR START UP COMPANY WITH ZERO INCOME IN THE FIRST YEAR - CAN HE TAKE 100% DEPRECIATION DEDUCTION UNDER 179 .... ON A MACHINARY BEING USED COST $ 500,000/-
Best Answer Click here
Labels
sjrcpa
Level 15
03-30-2022
02:43 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Assuming they have actually started business, if they take Section 179 it will be carried over to next year since there is no income.
They could take 100% bonus depreciation and create a loss.
The more I know the more I don’t know.
ramraor
Level 2
04-01-2022
08:28 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
THANKS FOR RESPONSE - WILL FOLLOW
sjrcpa
Level 15
04-01-2022
10:00 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
You're welcome
The more I know the more I don’t know.
