Truck equipment purchase · 🏠 Lower Taxes w/ Ryan

Truck equipment purchase

I’m planning on transferring my c corp to an s corp at the end of the year. We were planning to buy a truck for my business by the end of the year to take advantage of the depreciation on equipment for our taxes this year. However I’m wondering if this will be a problem with the transfer. Also If this is a truck we may buy from the corporation (years down the road) to use for personal use would that be simpler if it was purchased under the s corp vs the c corp? Or do all assets also smoothly transfer from the c corp to the s corp when the change happens?

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