IRS announces business vehicle deduction limits for 2017
The IRS has published depreciation limits for business vehicles first placed in service this year. These limits remain largely unchanged from 2016 limits. Because 50% bonus depreciation is allowed only for new vehicles, these limits are different for new and used vehicles. * For new business cars, the first-year limit is $11,160; for used cars, it’s $3,160. After year one,...
Tags: 2017 vehicle limits