Excess depreciation on luxury vehicles

2023 luxury auto depreciation amounts

Luxury Auto Depreciation Caps and Lease Inclusion Amounts Issued for 2023

The IRS has issued the luxury car depreciation limits for business vehicles placed in service in 2023 and the lease inclusion amounts for business vehicles first leased in 2023. Depreciation Caps for Luxury Passenger Cars The luxury car depreciation caps for a passenger car placed in service in 2023 limit annual depreciation deductions to: $12,200 […]

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2022 luxury car depreciation

Luxury Auto Depreciation Caps & Lease Inclusion Amounts for 2022

The IRS has issued the luxury car depreciation limits for business vehicles placed in service in 2022 as well as the lease inclusion amounts for business vehicles first leased this year. Luxury Passenger Car, SUV, Truck, and Van Depreciation Caps The luxury car depreciation caps for a passenger cars, SUVs, trucks, and vans placed in

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