I Broke Turbo Tax + new Tax Law Reminders - Cleaning Talk - Professional Cleaning and Restoration Forum
 
Thread Tools Display Modes
post #1 of Old 05-07-2019, 03:52 PM Thread Starter
Senior Member
 
bdjanitorial's Avatar
 
Join Date: Sep 2014
Location: Oregon
Posts: 201
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
https://www.marketwatch.com/story/ho...ate-2018-08-13
Brad BD Janitorial
bdjanitorial is offline  
Sponsored Links
Advertisement
 
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Cleaning Talk - Professional Cleaning and Restoration Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Similar Threads
Thread Thread Starter Forum Replies Last Post
Text reminders for customers raelyn Websites, Software, and Computers 3 09-28-2019 09:32 AM
Late Pay Notices / Reminders bdjanitorial Business 20 09-17-2018 01:22 PM
41, broke, no car and divorced - Watch Me Succeed! NewCleaningBusiness New Member Introductions 9 12-25-2014 11:28 AM
Mytee hot turbo Dmreed4311 Carpet, Rug & Upholstery Cleaning 1 02-14-2012 11:01 PM
Broke Window Washer Needs Help firegal39 Windows & Gutters 7 10-08-2010 01:18 AM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

 
For the best viewing experience please update your browser to Google Chrome