cap on deductions – Crawford Ellenbogen

Dec 22, 2020

Drive more savings to your business with the heavy SUV tax break

By Joan Ellenbogen
Business, Taxes
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Are you considering replacing a car that you’re using in your business? There are several tax implications to keep in mind. A cap on deductions Cars are subject to more restrictive tax depreciation rules than those that apply to other depreciable assets. Under so-called “luxury auto” rules, depreciation deductions are artificially “capped.” So is the