Business Deductions
- Amortization
- Business Losses and Net Operating Losses
- Car and Truck Expenses
- Day-Care Services
- Depreciating Business Property
- Depreciating Your Car
- Domestic Production Activities Deduction
- Health Insurance Deduction
- Home Office Deduction
- Meal and Entertainment Expenses
- Organizational Costs and Start-up Costs
- Qualified Plan Awards
- Schedule C Expenses
- Section 197 Intangibles
- Should You Sell or Trade in Your Car?
- Start-up Costs
- Travel Expenses
More Tax Topics
- Business Structures
- Hiring Workers
- Retirement
- Top Tax Myths
- Per Diem Rates - IRS Publication 1542 Oct 2011 for Travel Within the Continental U.S (for employers who pay a per diem allowance to employees)
Quick Links
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Need Some Deductions for 2012?
Don't overlook these!
Updated for 2012
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Depreciation Methods for a Vehicle
You can use one of the following methods to depreciate your vehicle:
- 200% declining balance method (200% DB) over a 5-year recovery period that switches to the straight-line method when that method produces an equal or greater deduction (the switch is built into the table).
- 150% declining balance method (150% DB) over a 5-year recovery period that switches to the straight-line method when that method produces an equal or greater deduction (the switch is built into the table).
- Straight-line method over a 5-year recovery period.
Next:
Car Expenses-Depreciation: Depreciation Conventions
Related Links
- The Mileage Allowance Method
- The Actual Expense Method
- Six Things to Know About Depreciating Your Car
- Type of Vehicle Being Depreciated
- Heavy Trucks, Vans, and SUVs (weight-rated over 6,000 pounds)
- Passenger Cars (weight-rated at 6,000 pounds or less unloaded)
- Light Trucks, Vans, and SUVs (weight-rated 6,000 pounds or less fully loaded)
- Electric Cars-Depreciation Limits
- Improvements Made to Vehicle
- Depreciation Recapture Rule
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