Can someone help with an often asked question of late?

Oct 6, 2021
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United States
Hi everyone! More than a few of my small biz accounts have asked a question. Although I never give tax advice, I like to state what I believe is the answer and tell them to ask their accountant/cpa. Because vehicle inventory is so low right now and production quite slow, clients have asked if they order a truck that qualified for accelerated 1st year depreciation, if they can still write it off this year if it doesn't arrive before Dec 31. Most will finance with a certain amount down. Most wouldn't even mind having the biz place a full deposit of all costs, and then get a refund when the vehicle and financing comes through. Is there a way to take the full depreciation either through the normal course of buyers order now with a few thousand dollar deposit, or some creative way that meets the legal guidelines? I'm selling orders below invoice, so I have quite a few of these that I'm dealing with that were expected to arrive before year end, but may not. Thanks for any suggestions you can give! I'm glad to be here.


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