Can anyone clarify the IRS sectiion 179 deduction for trucks? - Page 2
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  1. #11
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    questions like this is why I have a CPA, $300 a yr to do my taxes. I simply download my bank account to Quickbooks online, catergorize it put it on his desk with bank accounts. He prints all the reports, I sign he sends to IRS. EZPZ! Never a problem, had same one 10 yrs.

  2. #12
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    Quote Originally Posted by tunaman View Post
    questions like this is why I have a CPA, $300 a yr to do my taxes. I simply download my bank account to Quickbooks online, catergorize it put it on his desk with bank accounts. He prints all the reports, I sign he sends to IRS. EZPZ! Never a problem, had same one 10 yrs.
    Ours was like insurance. It cost more every year. And when my income was falling during the housing crisis his bill was climbing.

  3. #13
    Senior Member cadman's Avatar
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    Quote Originally Posted by tunaman View Post
    questions like this is why I have a CPA, $300 a yr to do my taxes. I simply download my bank account to Quickbooks online, catergorize it put it on his desk with bank accounts. He prints all the reports, I sign he sends to IRS. EZPZ! Never a problem, had same one 10 yrs.
    Mine is $1000 for my business return. Gives me my Schedule K and I do my personal on Turbo Tax.
    I am just here for my amusement

  4. #14
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    $300 is cheap. Our only product is time, so the longer it takes, the more it costs unfortunately. The actual tax returns are (usually) relatively easy - the big time-sinks are when people's Quickbooks are a mess and we have to straighten those out.

  5. #15
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    Quote Originally Posted by dave44 View Post
    That's sweet! If you are in a constant grow it works great!


    I have to wonder how you keep adding quality employees to man that growth? I have problems with that. ( it's a bit of sarcasm, I've seen your posts about it).
    But you have a great market for your field!
    Not necessarily adding to the fleet. Most of the time I'm just rotating a old truck out and a new one in. And no I still can't find employees.

  6. #16
    Senior Member BigDanS's Avatar
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    Crap... a Crewmax Tundra has a 67" bed.... 5'7" and misses the requirement by 10 inches.

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  7. #17
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    Quote Originally Posted by dave44 View Post
    Ours was like insurance. It cost more every year. And when my income was falling during the housing crisis his bill was climbing.
    Does anything cost less every year??

  8. #18
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    Quote Originally Posted by jake View Post
    $300 is cheap. Our only product is time, so the longer it takes, the more it costs unfortunately. The actual tax returns are (usually) relatively easy - the big time-sinks are when people's Quickbooks are a mess and we have to straighten those out.
    Messed up? My acct. called me a few yrs ago and said"you can't deduct this, you can't do that" I said, "hey, that P&L tells you where my money went now you dou your job, leave me alone so I can do mine".

  9. #19
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    Quote Originally Posted by tunaman View Post
    Messed up? My acct. called me a few yrs ago and said"you can't deduct this, you can't do that" I said, "hey, that P&L tells you where my money went now you dou your job, leave me alone so I can do mine".
    Tunaman, I couldn't agree more. I got buddies that seem to be doing very well and never have a tax bill for the business. They just smile. Ticks me off. You would think my accountant works for the IRS.


    Can't blame them, they are not going to loose their business for you or me. However, still can't figure out how some business always seem to break even.


    Edit. On second thought, they can only report what you tell them. I'm sure people run a false set of books. I just can't do that.

  10. #20
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    Exactly ACman. I know little about it and not saying some never has gone directly into my pocket. I have a saying, "you can claim anything as a business expense.......until you get audited". I don't need any red flags waving.

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