Hi Mark,
Does the IRS cap total first-year depreciation at $11,600 per vehicle? This is what my accountant told me; everything I have researched said in 2024 I could deduct $12,400 + $8,000 bonus depreciation as my vehicle is < $6000 lbs, for total $20,400. Is this true about the first year depreciation limits? I am considering having my taxes from 2024 amended and refiled if this is inaccurate since he didn’t even apply any bonus depreciation!
I’m actively looking to switch to someone in the Mark Kohler network to elevate my tax efficiencies to the max!