10-13-2003, 05:28 AM
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 Re: Corp auto depreciation on 5% shareholder "Craig Stone" <jcstone1[at]comcast.net> wrote: - quote - > If a company employee (5% owner of S Corp) uses a vehicle
Exactly what is the employee supposed to be depreciating?> less than 50% for business purposes but the personal use is > passed through as W-2 wages, is he entitled to MACRS and > Section 179? Next, what if the vehicle has a GVW above 6000 > pounds? Does the answer change? He doesn't own the vehicle...... -- David M. Woods, EA Boston, MA 02109 Postings here are general information only and not to be relied upon as advice. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
10-11-2003, 06:43 AM
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| Corp auto depreciation on 5% shareholder If a company employee (5% owner of S Corp) uses a vehicle less than 50% for business purposes but the personal use is passed through as W-2 wages, is he entitled to MACRS and Section 179? Next, what if the vehicle has a GVW above 6000 pounds? Does the answer change? Thanks...Craig << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| auto, corp, depreciation, shareholder |
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