Section 179 Deduction 2020
In this video, I explain how the section 179 deduction works and the 2020 limits. This is the deduction that people talk about when they’re talking about “writing off your car” or however they talk about it. Basically a business vehicle needs to be depreciated over time but thanks to section 179 and bonus depreciation, the full value of the vehicle can be depreciated in the first year of purchase.
#IRS #section179 #bonusdepreciation
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This video is for entertainment purposes only. The information portrayed in this video should not be considered as tax or legal advice. Consult with your own tax professional and attorney to get proper advice for yourself.
https://youtu.be/TUa624Fx5fo
Видео Section 179 Deduction 2020 канала Nguyen CPAs
#IRS #section179 #bonusdepreciation
Check out our other videos related to personal finances and tax, as well as business finances and tax.
If you enjoy our content and want to support us, donate through Venmo @nguyencpas
If you want more live Q&As or one on one chats to get specific questions answered, check out our Patreon page:
https://www.patreon.com/nguyencpas
Our Website:
www.nguyencpas.com
Join our Facebook group for more active updates:
https://www.facebook.com/groups/nguyencpalounge
Our online course for navigating the pandemic:
https://courses.nguyencpas.com/courses/covid19taskforce
Budgeting Playlist:
https://www.youtube.com/playlist?list=PL_NsTNDu5AJeTAKuYVg9YLU6LpsX-L4J8
Winning in Business Playlist:
https://www.youtube.com/playlist?list=PL_NsTNDu5AJdesDOy7yvagXRugo1_bJpT
Tax Playlist:
https://www.youtube.com/playlist?list=PL_NsTNDu5AJeRUVN47zXbNsgpmCrkChAr
PPP Playlist:
https://www.youtube.com/playlist?list=PL_NsTNDu5AJfIvbNI6pqiCNN6Xx-GMAmV
EIDL Playlist:
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COVID-19 Playlist:
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This video is for entertainment purposes only. The information portrayed in this video should not be considered as tax or legal advice. Consult with your own tax professional and attorney to get proper advice for yourself.
https://youtu.be/TUa624Fx5fo
Видео Section 179 Deduction 2020 канала Nguyen CPAs
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