The maximum deductions for the second and third years are now $5,000 and $3,500. The maximum annual deduction for years 4 and after is $1,875.
- Mark S Gleason CPA
www.lakes-cpa.com
Friday, March 14, 2014
Reduced Deduction for New Business Autos in 2014
With the end of bonus depreciation, which phased out at the end of 2013, the maximum deduction for depreciation on most automobiles for the first year is back down to $3,160.
The maximum deductions for the second and third years are now $5,000 and $3,500. The maximum annual deduction for years 4 and after is $1,875.
- Mark S Gleason CPA
www.lakes-cpa.com
The maximum deductions for the second and third years are now $5,000 and $3,500. The maximum annual deduction for years 4 and after is $1,875.
- Mark S Gleason CPA
www.lakes-cpa.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment