Don’t let your S corporation cost you valuable business deductions

Do you own an S corporation?

Did you buy a 2014 business vehicle in your personal name?

If you’re answering “yes,” keep reading because a lot of money is at stake. You see, if you don’t handle things correctly, you could lose huge 2014 business deductions.

I’m talking about Section 179 expensing, which allows you to take up to $500,000 worth of deductions, plus bonus depreciation that can save you even more!

Want to protect all your S corporation deductions and come out a big winner? It’s easier than you think as you’ll learn when you read my new article titled Tax Tips: Did You Buy a 2014 Business Vehicle in Your Personal Name? To Protect Your S Corp’s Deductions, Use This Smart Strategy.

Three ways our fact-filled article can help you:

1. We’ll explain the huge advantages of Section 179 expensing. Uncle Sam gives you two ways to expense your 2014 vehicle purchase. (Say thanks to the lame duck Congress.) You can deduct a little bit each year… or you can use Section 179 to speed up the normal depreciation process. Instead of having to wait six years to deduct the full expense, you get the entire deduction up front! You’ll get all the details when you read the full article.
2. You’ll learn why reimbursement through your corporation can make a lot of sense. Sometimes it’s better to buy a vehicle in your personal name instead of through your S corp. That’s when you should use Section 179 to deduct the cost of the vehicle on the corporate books. We’ll show you how when you read the full article.
3. We’ll tell you how to document the corporate reimbursement to you the right way. To properly move the expense of the vehicle to you from the corporation, you need to create two important documents. But don’t worry. It’s easy to do as we’ll explain when you read the full article.