Erica M. asked
I was audited and the auditor stated I could take a section 179 deduction for financed software for my business and that I have to deduct 20 miles from my daily work miles even if I work remotely. I know both of these statements are wrong. Please provide the 179 regulation that states I can take a section 179 deduction for business software that is off the shelf and financed. Also, please provide how work mileage is actually calculated if I work from home and work in the field.
February 29th, 2024
William L. answered
Packaged computer software is eligible for a Section 179 deduction under IRC 179(d)(1)(A)(ii). You c...
February 29th, 2024
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