New Truck Tax Deduction (179)Questions for Any Accountants

If there are any accountants out there, I have a section 179 tax question. The bulk of my salary (well over 90%) is earned as salary. However I earn a small amount of income each year as a 1099-misc (1099-NEC for 2020), making me an independent contractor. My income from this 1099 is always less than about 6-7k per year. This year, one time only, that 1099 will go just north of 20k and return to 6-7k in subsequent years.

With Covid, my home became my office this year and will stay that way indefinitely. I still have to commute everyday, but all my "office work" is done at home, so more than 60% of my miles have become "work, non-commuter"miles. (Miles don't exist for my salaried income except sometimes in conjunction with my contractor work) So, I don't want a new truck, I love my truck. But my AGI puts the top end of my salary in the 32% tax bracket. I would rather use that cash ($6-7K)toward a new vehicle than send it to the IRS. And, would probably just purchase an updated version of the MGM Platinum 4WD that I have.

Is there something that I am missing in this scenario?

 

I do not know first hand

However I do applaud you for wanting to keep the Government out of your pocket