March 4, 2020

What tax effect would death, retirement, or disability have on you or your business? Here’s an easy example to illustrate.

Let’s say that in 2017, you purchased for business use a pickup truck with a gross vehicle weight rating greater than 6,000 pounds. Asserting that you use the pickup 100 percent for business, you expensed the entire $55,000 cost.

What happens to that $55,000 expensed amount if you die, retire...

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