Quote:
Originally Posted by POS
A few points:
(1) He's a dumbass who blew $50k on a truck just so he could get a write-off? Does he know what a write-off is? Has this idiot ever heard of getting whacked by depreciation on a new truck?
(2) You don't get to decide who "needs" what - technically, you don't "need" a 1991 560SEC that sucks down all of "our" gas (irony, intended).
(3) This loophole has been around since the 80s, and the Congress recently made it so that the deduction could be taken in one year rather than over five years. This loophole will not be going away soon.
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I think it was also changed to one year for machine tools as well.