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Social Studies, 12.02.2020 23:07 phanuel642

When a taxpayer buys a new vehicle for business use you should . Encourage them to take both the Section 179 deduction and bonus depreciation to benefit on this year's tax return. Explain to them that bonus depreciation is automatically calculated because they should take it. Discourage them from taking a Section 179 deduction because it is rarely beneficial. Discuss how Section 179 and bonus depreciation will effect this year's tax return, as well as future years, and let them decide what is best for them.

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