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CAN I TAKE THE FET AS A TAX EXPENSE OR DO I HAVE TO DEPRECIATE THIS?

shf1957
Level 7

Client traded in a big westernstar for a newer one.  I plan to take the depreciation on the truck.  Is it allowable to take the Federal Excise Tax (FET) as a tax expense?  Or do i have to depreciate this?  

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IRonMaN
Level 15

All costs incurred to acquire an asset get capitalized 


Slava Ukraini!

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1 Comment 1
IRonMaN
Level 15

All costs incurred to acquire an asset get capitalized 


Slava Ukraini!