Article Date:
October 2013


Word Count:
874

 

 

Test Your Tax IQ: Realizing Tax Benefits of a Loss Deduction


Situation

 

You are going to replace your old business vehicle with a new vehicle before the end of the year.

 

To make sure you get the benefits you want from the new vehicle, you read the article Maximum First-Year Tax Deduction on a Business Vehicle.

 

So far, so good. You’re happy about how you are going to benefit with the new vehicle.

 

But you have this nagging fear that the old business vehicle has some tax benefits that you need to know about before doing anything with it.

 

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