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January 12, 2021
Question

How is business net income figured for sec.179? I will have plenty of W-2 income but not much from new single member LLC. Can I deduct the full cost of a new food truck?

  • January 12, 2021
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    January 12, 2021

    wages are considered business income for section 179.  if 179 doesn't work you can try bonus depreciation. the amount of depreciation should be the same and there is no business income limitation