Thinking of buying a motor home? Be careful!
You see, your ability to take advantage of a section 179 deduction is somewhat in limbo.
It’s possible that lawmakers will reinstate last year’s limits on section 179 expensing. Or maybe they won’t. And that’s the point. The status of the law is unclear at this time. Which is why, in my new article, I’ll examine the gamble you’ll be taking if you buy before lawmakers decide whether or not to reinstate last year’s limits.
The bottom line? Before you hit the road, be sure to read my new article titled, Tax Tips: Should You Gamble on a Big Motor Home Deduction This Year?
Three ways our fact-filled article can help you:
- We’ll examine the best-case scenario. You’re in luck if lawmakers reinstate the $500,000 overall limit on the Section 179 deduction for 2014. With the new limit, your maximum deduction on the motor home is your business cost, up to $500,000. You’ll get all the facts when you read the full article.
- We’ll look at the worst-case scenario. If lawmakers don’t improve the law, you could wind up with a $28,750 deduction instead of a full deduction for your business cost, say $100,000. We’ll give you the details when you read the full article.
- You’ll learn why big really is better. Both new and used business motor homes (with a Gross Vehicle Weight Rating of more than 14,000 pounds) escape the $25,000 limit on Section 179 expensing. We’ll explain why buying a heavy vehicle may make sense when you read the full article.