Tag Archives: Company Vehicle

ITEM #6 – IRS announces business vehicle deduction limits for 2017

The IRS has published depreciation limits for business vehicles first placed in service this year. These limits remain largely unchanged from 2016 limits. Because 50% bonus depreciation is allowed only for new vehicles, these limits are different for new and … Continue reading

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Using a Vehicle for Business: Q&A

IRS rules and exceptions abound, but there are some questions we can answer simply. Next to your home, your car is probably the most expensive investment you make. And the costs of paying for and maintaining it can be considerable. … Continue reading

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IRS publishes business vehicle deduction limits for 2014

The IRS has published depreciation limits for business vehicles first placed in service this year. 50% bonus depreciation is no longer allowed for business equipment purchases, including vehicles. Here’s a quick review of the adjustments for 2014. For business cars … Continue reading

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IRS issues guidance on bonus depreciation

Under the “Tax Relief Act of 2010,” you may be able to write off the entire cost of business property placed in service this year, thanks to 100% “bonus depreciation.” Prior to this law, a business was able to claim … Continue reading

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