I Broke Turbo Tax + new Tax Law Reminders - Cleaning Talk - Professional Cleaning and Restoration Forum
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post #1 of Old 05-07-2019, 02:52 PM Thread Starter
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I Broke Turbo Tax + new Tax Law Reminders

I tried out Turbo tax online version this year and well.... it had some issues. After spending over an hour with tech support + the escalated support, they could NOT fix the issue I was having with the online software. The Rep did confess that they had trouble implementing the New Tax law changes to their software BUT they did give me a free download version to finish my taxes.

Just a reminder, the New Tax Changes, means 100% expensing for equipment plus some vehicle purchasing rules/benefits--see below.

From Market Watch.com ----- 100% first-year bonus depreciation for heavy SUVs, pickups, and vans used over 50% for business
The TCJA allows 100% first-year bonus depreciation for qualifying new and used property that is acquired and placed in service between 9/28/17 and 12/31/22. This break can have a hugely beneficial impact on first-year depreciation deductions for heavy vehicles used over 50% for business.---- see link below for full article.

Example 1
You buy a new $70,000 heavy SUV (or heavy pickup or van) in 2018 and use it 100% for business. Thanks to the 100% first-year bonus depreciation break, you can deduct the entire $70,000 cost in 2018
Brad BD Janitorial
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