I have a question about vehicle depreciation. If I take a Section 179 deduction on the full purchase price of a vehicle will I still have the ability to depreciate the vehicle in future returns?
No, you will not have any additional vehicle depreciation. You must reduce your basis in the property by the Section 179 deduction. By doing so, you will not have any basis for property to depreciate in future years.
Find out if child custody matters when you’re trying to determine which parent should claim your child on taxes. The experts at H&R Block explain the rules.
What are the requirements for the home office deduction? Learn about deductible home office expenses and get tax answers at H&R Block.
Do you need to amend your return after claiming adult children who have filed taxes on their own? Get tax answers at H&R Block.
In this post, we’ll discuss Alabama property taxes (on real property) – including who owes, how they’re calculated, how to pay, and when they’re due.