CPAdirectory

Tax Law Highlights - 2012

Vehicle Depreciation Limits - 2012

New cars put in service in 2012 and used over 50% for business, bonus depreciation allows a $11,160 first year depreciation limit. The limit is $3,160 if Bonus depreciation is not used. Light trucks or Vans put in service in 2012 and used over 50% for business, bonus depreciation allows a $11,360 first year depreciation limit. The limit is $3,360 if Bonus depreciation is not used.

Note If you need professional help with "Tax Law Highlights - 2012" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.