Section 179 Deduction Vehicle Tax Deduction How to Write Off a Car

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Are you a small business owner interested in learning about Section 179 for a vehicle tax deduction? Have you ever wondered how to write off a car? In this video I explain section 179 of the IRS Tax Code. This is basically an incentive from the government to small business owners to invest in themselves and their business by purchasing certain qualified equipment, passenger vehicles, and many other qualified items. • In a nutshell, instead of depreciating certain purchases over several years, Section 179 allows business owners to depreciate 100% of the purchase in the current year in which you purchased the vehicle and placed it into service. • Additional resource for you to learn more about Section 179... https://www.section179.org/property_t... • IRS Publication 946: https://www.irs.gov/pub/irs-pdf/p946.pdf • IRS Publication 463: https://www.irs.gov/pub/irs-pdf/p463.pdf • ————— • Call if you WANT TO ASK ME A QUESTION... • ➡️ https://bit.ly/KSchollCoaching • ————— • MY WEBSITE • 👨‍💻 https://www.kscholl.com • ————— • Support the channel - random referral links: • ➡️ BLENDERS SUNGLASSES: Get $20 off your order of $50 or more: http://rwrd.io/dhqkw4a • ➡️ Nice affordable WATCH STRAPS from StrapsCo: https://strapsco.com/?ref=161 • ➡️ My MAGNETIC COLLAR STAYS on Amazon: https://amzn.to/3q70ZPE • ➡️ Hey! I'm using SoFi INVEST 📊 to buy and sell stocks (and pieces of stocks) with ZERO fees. Open an Active Investing account with $100 or more and you'll get $25 in stock. Use my link: https://www.sofi.com/invite/invest?gc... • ➡️ STUDENT LOAN REFINANCE WITH SoFi: https://www.sofi.com/invite/student-l... • ➡️ 50% OFF QuickBooks Online Subscription for first 6 months: https://refer.quickbooks.ca/s/kylescholl • ————— • ➡️ Share this video with a friend: • Section 179 Deduction // Vehicle Tax ... • ➡️ Subscribe for more videos: / @financial_awareness • ————— • OTHER VIDEOS YOU MAY LIKE • Tax Deductions Tax Credits (my favorites): • Tax Deductions Tax Credits You NEED... • Effective Tax Rates vs Marginal Tax Rates: • Effective Tax Rate vs Marginal Tax Ra... • SEP IRA Retirement Accounts for Business Owners: • SEP IRA // 2020 Retirement Accounts E... • 401(k) - Roth 401k vs Pre-Tax 401k: • Roth 401k vs 401k // Roth 401k Explained • 401(k) - Plans No Longer Make Much Sense: • 401k Plans No Longer Make Much Sense ... • 401(k) - How Aggressive Should it be: • How Aggressive Should My 401k be? (A... • 401(k) - Should I...Cash Out my 401k: • Should I Liquidate my 401k // CARES A... • 401(k) - Should I...Borrow from my 401k: • Should I Borrow from my 401k // Cares... • 2020 Retirement Account Limits: • 2020 Retirement Account Limits // Ret... • ————— • Link to GMC Commercial: https://www.ispot.tv/ad/ZlGW/gmc-blac... • ————— • ABOUT ME 👇 • I've been involved in people's financial decisions for 15+ years (7 yrs Real Estate experience 8+ yrs as a former Financial Advisor)...I now bring the financial successes, mistakes, failures, and best financial habits/tips to you through these videos. • My mission is to bring Financial Awareness to the forefront of your daily decisions so you can: improve your quality of life, increase your net worth, and grow upon your financial literacy. My videos are a reflection of my real-world experience as a real estate investor, stock market investor, student of finance, entrepreneur, and of course...my experience as a Former Financial Advisor. • This channel allows me to share my passion for personal finance, stock market investing, real estate investing, and entrepreneurship. I produce content that I would want to watch, and because of that, I give 100% effort in every video that I make. I also believe in complete transparency and open communication with my audience. • Subscribe if you are interested in: • #Section179 • #VehicleDeduction • #BusinessWriteOFF • DISCLAIMER: I am not a financial adviser or a certified public accountant. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments. • AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion.

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