Article Date:
November 2020


Word Count:
1363

 

 

2020 Last-Minute Vehicle Purchases to Save on Taxes


 

1.

Do you need a replacement business car, SUV, van, or pickup truck?

2.

Do you need tax deductions this year?

 

If you answered yes to both questions, you need to examine this article and get ready to smile.

 

Thanks to the Tax Cuts and Jobs Act (TCJA) tax reform, you can write off the cost of a vehicle purchase faster than ever before—including, in many cases, up to 100 percent of the cost in 2020.

 

Get the Timing Right

 

Don’t procrastinate. If you want the vehicle deduction, you need to

 

·

own the vehicle, and

·

place it in business service ... Log in to view full article.

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