Here’s a new update on How to write off the vehicle in 2023. There have been a few updates to the tax code that makes using the vehicle tax deduction even more powerful. Watch this entire video to get a full understanding of these updates and how they can help you.
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Timestamps
Update on How to Write Off a Vehicle (0:00)
#1 Two Methods for Vehicle Tax Deduction (1:02)
#2 Maximizing Depreciation for Cars (4:37)
#3 Section 179 and Bonus Depreciation (7:28)
#4 Standard vs Actual Method (11:12)
#5 Important Notes & Frequently Asked Questions (13:47)
Depreciation Recapture (15:14)
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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).
