Great question about bonus depreciation! Just to add another perspective - I went through this exact decision last year with a $15k roof replacement. I ended up taking the bonus depreciation because my income was unusually high that year due to a consulting contract. One thing that helped me decide was running the numbers both ways. I calculated the present value of the tax savings from taking the full deduction now vs spreading it over 27.5 years. With my tax rate and the time value of money, taking it all upfront saved me about $800 in real terms. Also worth noting - if you're doing any other major improvements this year (windows, flooring, etc.), you might want to coordinate the timing. Sometimes it makes sense to bunch deductions in high-income years and spread them out in lower-income years for optimal tax planning. Your accountant will definitely want to review this when they get back, but the software isn't wrong - you do have the option!

This is such a timely question! I just went through the same decision process with a $12,000 roof replacement on my duplex. What really helped me was thinking about it from a cash flow perspective rather than just the tax savings. Since you mentioned having substantial income this year that could be offset, bonus depreciation sounds like it could work well for you. I ended up taking the full deduction because I'm in the 24% bracket this year but expecting to drop to 22% when I semi-retire in a few years. One practical tip - make sure you document WHY the roof needed to be replaced (storm damage, age, etc.) and keep photos if you have them. The IRS likes to see that improvements were necessary rather than just cosmetic upgrades, especially for larger amounts like yours. Also, don't stress too much about the decision being permanent for future improvements. Each qualifying improvement is evaluated separately, so you can always choose regular depreciation for future projects if your tax situation changes.

Check your transcript for cycle codes - those are way more important than the as of date tbh

Same thing happened to me last year - my as of date jumped around like crazy for weeks and I was losing sleep over it. Turns out it was just routine processing and I got my refund exactly when WMR originally said I would. The IRS systems are confusing but try not to stress too much about the date changes alone!

Sorry but most of these comments are missing something crucial - the LLC aspect. How your LLC is taxed makes a BIG difference here! If you're a single-member LLC taxed as a sole proprietor, that's different than if you elected S-Corp taxation. With S-Corp taxation, if you buy the truck personally and use it for business, you need to be very careful about reimbursements to avoid it being considered a taxable fringe benefit to you as the employee/owner. I learned this the hard way and ended up with a mess to fix. Before you do anything, you should clarify your LLC's tax election status. Makes a huge difference in the right approach.

Great point about LLC tax elections! Since you mentioned launching your LLC last year, you likely defaulted to single-member LLC taxation (disregarded entity), which means vehicle expenses flow through to your personal Schedule C. This actually simplifies things compared to S-Corp situations. For your aquatic training business, I'd lean toward purchasing the truck through the LLC and claiming actual expenses rather than mileage. Given that you're hauling heavy equipment (tanks, compressors, etc.) to remote locations, you'll likely have significant wear and tear that exceeds what the standard mileage rate covers. Since you already have a personal vehicle, documenting 100% business use should be manageable. Just keep that detailed log everyone mentioned, and consider taking photos of the truck loaded with your gear at different training sites. The IRS is more accepting of 100% business use when there's a clear business necessity and you have a separate personal vehicle. One more thing - don't forget to factor in the business use percentage of your truck insurance into your decision. That alone might make the actual expense method more beneficial than mileage for your situation.

Don't stress too much about the as-of date changes - I've seen this happen countless times and it's usually just the system doing background processing. The fact that it moved from March 1st to April 15th suggests they're still working on your return. With EIC and CTC claims like you mentioned, it's pretty normal for these dates to jump around while they do their verification checks. Keep monitoring for actual transaction codes like 846 (refund issued) or 570 (additional account action pending). The waiting game sucks but you're still well within normal processing timeframes!

I went through the exact same thing last month! My as-of date jumped from Feb 10th to March 31st with zero other changes, and I was freaking out thinking something was wrong. Turns out it was just their system doing routine processing checks. About 2 weeks after that date change, I finally got my 846 code and refund. The waiting is brutal but try not to read too much into the as-of date alone - focus on watching for actual transaction codes that indicate real movement. Hang in there! 🤞

According to the IRS.gov website, offsets follow a specific priority order if you have multiple types of debt. Tax debts always get paid first, then other federal debts, then state tax debts, and finally child support. Each type uses the same TC 898 code but with different reference numbers. The IRS has a detailed FAQ page about the refund offset process here: https://www.irs.gov/taxtopics/tc203. The Bureau of Fiscal Service handles the actual offset program, and they're required to send you a notice after the offset occurs explaining what happened to your refund.

Thanks for posting this question - I've been wondering about the same thing! As someone who's dealt with IRS transcript codes before, I can confirm that TC 898 is indeed the key code to watch for. One thing I'd add is that if you're proactively monitoring for potential offsets, you might also see TC 971 (notice issued) appear on your transcript before the actual offset happens - this usually corresponds to when they send out notices about pending collection actions. The timing can vary, but typically the TC 971 appears 2-4 weeks before the TC 898 offset code. Also, if you have installment agreements in place, make sure they're current because even one missed payment can trigger an offset of your refund. The IRS doesn't always distinguish between "active" payment plans and ones that are technically in default due to missed payments.