Article Date:
July 2010


Word Count:
545

 

 

Reimburse Corporate Owner-Employee for Depreciation


Question

 

I have your tax course.

 

Before purchasing your tax course, I bought a business SUV and then incorporated.

 

Your tax course says that my corporation can reimburse me for actual expenses on the SUV, including the Section 179 deduction and five-year MACRS depreciation.

 

My CPA says that I may not reimburse Section 179 or depreciation. Who’s right? (J.D.S., Springfield, Mass.)

 

Answer

 

Nice setup: Thanks! Guess who’s right? Your course, of course, and here are the facts.

 

 

IRS Reg. Section 1.62-2(d)(1) allows as ... Log in to view full article.

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