Is the heavy vehicle depreciation/deduction a feasible option for physicians? If so, how is it done?
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It can be if you need a vehicle for work outside of commuting and use your vehicle > 50% of the time for business. That is usually a difficult threshold for a physician to overcome.Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087
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does the vehicle outside of commuting constitute hauling of heavy material/farming/etc. Or, is it for any business usage?
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Not sure what you mean by the first statement.
Business usage is for any business purpose but the vehicle cannot be a "passenger automobile". SUVs, trucks, vans, etc. qualify.Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087
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does the vehicle outside of commuting constitute hauling of heavy material/farming/etc. Or, is it for any business usage?
Click to expand...
Not sure what you mean by the first statement.
Business usage is for any business purpose but the vehicle cannot be a "passenger automobile". SUVs, trucks, vans, etc. qualify.Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087
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