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2014 Depreciation Limits on Luxury Autos: IRS Rev Proc 2014-21

According to 26 U.S. Code § 280F - Limitation on depreciation for luxury automobiles the first year's depreciation expense for a newly procured vehicle should be prorated over the tax year based on the in service date not to exceed

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Posted in Amortization, Depreciation, Self Employ, Small Business, Tax Deductible Expenses, Tax Guidance & Preparation
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