Updated over 11 years ago on .
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Looking for big deductions to close out 2013
Any ideas? Would it be a good idea to buy a new truck this year? Any other ideas to get big deductions for 2013? @Steven Hamilton II
, anyone else?
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Just a heads up you cannot create a loss (with the Truck purchase as a 179 deduction) in the S-Corp.
BUT it can eliminate all profit(s) then the balance of the truck needs to be depreciated. I believe there may still be in place the added 50% accelerated depreciation (available in 2012). We did another truck last year & it was a VERY VERY NICE write-off :)