Bonus depreciation renewal
 

Anyone on here think bonus depreciation for 179 vehicles will be renewed by congress this year?

hope so!!! It's fun getting a new truck every few years!

Does the current 25k write-off include the tax on a new purchase and interest on finance or can I write those two items off on top of 25k in principle payments?

For Sec. 179 and all depreciation purposes, the cost includes sales tax, fees, etc, but not loan interest, which is deducted separately. The current $25,000 limit is based on 100% business use.

Commuting from home to work is considered personal use and not business use.

Probably won't know until November or December if retroactive $250,000 Sec. 179 and 50% bonus (new only) comes back. Hope so.