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179 max is $100k. depends on what bracket she is in. since she cant take the Earend income credit (MFS) there isnt that much work involved in figuring it out. figure her tax rate and then add the 15% self employment tax and youve got a quick and dirty percentage to multiply the 179 election by and poof. strategically you may want to look at setting up and S-corp to ditch a good part of the Self-employment tax.
ps. I tell my clients to first make a good economic/business decision then try to max the tax benefit. trading the year old v6 for a v8 for more power (though it makes sense to me) might not be the most economic thing to do. just a thought. I would rather see you do a SEP for her. 25% of her income can go into a retirment account.
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76/3.0 tarcabvertible
64 corvette conv.
72 Alfa GTV
79 Jeep Cherokee Chief
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