IRS Issues Luxury Auto Depreciation Caps and Lease Inclusion Amounts
If your business owns or leases luxury vehicles, this could be important to your 2021 tax planning. Luxury Passenger Car Depreciation Caps The luxury car depreciation caps for passenger cars placed in service in 2021 are limited to the following annual depreciation deductions: $10,200 for the first year without bonus depreciation $18,200 for the first year …
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