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Tax Liens & Mortgage Notes
Account Closed
  • Tax CPA
  • Charlotte, NC
186
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215
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"Creative" Way around Depreciation Luxury Auto Limit

Account Closed
  • Tax CPA
  • Charlotte, NC
Posted May 16 2017, 20:51

If one has a preference for trucks or other large vehicles over the IRS weight limit you receive full benefit of depreciation (up to business use).

Currently the code limits business car deprecation to basically a Honda Accord price point. Essentially someone driving a Tesla can only receive the same tax benefit as someone driving an Accord. 

Anyone use this to their advantage?