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 first placed in service this year, the
first-year depreciation limit is $3,160. After year one, the limits are $5,100
in year two, $3,050 in year three, and $1,875 in all following years.
The 2014 first-year depreciation limit for light trucks
and vans is $3,460. Limits for year two are $5,500, in year three $3,350, and
in each succeeding year $1,975.
For
details relating to your 2014 business vehicle purchases, contact our office.
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