Save on taxes: Bonus depreciation for business vehicle purchase
WEX Inc.
JUNE 20, 2024
As of the 2020 bonus depreciation rules, businesses can now deduct or depreciate 100% of the cost of a vehicle or truck. There may be replacements needed, in which case you may be thinking through costs and planning a best approach to swap out old vehicles. What are the differences between Section 179 and bonus depreciation?
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