this video is beautiful. I'm doing intermediate accounting class and i dont know wtf they were talking about. Thank you for taking the time to upload this.
Thanks for this simple video explanation of the very confusing depreciation. I actually run when I hear the D word. It’s funny how you turned your blooper into a rap session. We’ll probably see you work with JayZ or Kanye someday 😊
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l believe for a piece of heavy equipt,the simple way is simply 179 for me..l dont understand why i need to opt out of the bonus...my accountant isnt a CPA,l really wonder if he knows any of this !l do so much for him,categorizing everything,and letting him put it all together..SO L NEED to understand this somewhat...l make money ,never use any of this to show a loss to pay zero.
Also, has the deduction schedule (Section 168) been updated since this video? We are now in 2022 and it say 100%... has that been extended, modified, or changed in any way?
This is helpful in terms of "understanding that you don't understand is already leading to understanding". I would need to have more material with adition of more time dedicated into a subject to actually fully dive in and feel confident. But it's good start, thank you, maybe afyer third time watching with a mix of other resorces picture will get come colors and formes, for now it's abstract to me we a strong feel it's a picture, just takes some time looking at it in order to understand whats on it and how to apply.
Efros hope you can help and many others. Say a company purchased a $37.5k truck +6000# for 100% business use and took the section 179 allowed for the $25k deduction in year 1 (2016). Had low revenue in 2017 and wanted to defer appreciation of 2017 with 2018. Have no idea how to calculate year 2 (2017) and 3 (2018) depreciation to fill out form 4562 for 2018.
Thank you for watching the video and for your feedback! Per your request, the spreadsheet shown in the video may be downloaded by using the following link: mega.nz/#!IIAgCCCb!EG_bVUX0tLTy0zPdaDS5v6EmcFunTcot3hh4R1po6Fc Please feel free to reach out with any questions! :)
I have been paying taxes out my pocket for my c corp to maintain it for the future use and to gather money to get my business...I have no credit no money at all but still paying my taxes for my c corp how do I get House and Car? Is this possible to do with a someone in my position? Help please 🙏
WTH. I was so excited about bonus depreciation and then I saw I lived in CA and that is where I plan to buy my investment property :( DOes this mean I cant do bonus at all ??
Thank you for watching the video and for your feedback! Per your request, the spreadsheet shown in the video may be downloaded by using the following link: mega.nz/#!IIAgCCCb!EG_bVUX0tLTy0zPdaDS5v6EmcFunTcot3hh4R1po6Fc Please feel free to reach out with any questions! :)
Great video! I see that you're also using Lacerte. If I take the bonus depreciation and it created a loss, how is it going to be shown on the K-1 of an LLC member? On the following year, it is showing as a section 179 but it was actually a bonus depreciation. In Lacerte, I put it as a prior bonus depreciation and it is showing on the K-1 as section 179. Can you please explain briefly this part, how it is shown on the K-1 if in 2019 bonus depreciation created a net loss, then 2020 i want to take a bonus depreciation but this time it has enough income. For some reason, on K-1 it is showing as section 179. Also, what is the effect on the self-employment earnings? Thank you so much in advance.