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)
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Need Some Deductions for 2011?
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Updated for 2011
Car and Truck Depreciation
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Depreciating Vehicles
Passenger cars, light trucks and vans:
There are annual depreciation limits for passenger cars ($3,060 for 2011) and light trucks, vans, and SUVs weight-rated 6,000 pounds or less ($3,260).
These limits are listed in the tables for:
- Passenger cars (Form 4562 instructions, page 16)
- Light trucks, vans, and SUVs (these are vehicles with a gross vehicle weight of 6,000 pounds or less (Form 4562 instructions, page 16).
Heavy trucks and vans and other business equipment (more than 6,000 pounds):
- The annual depreciation ceilings (limits) do not apply to heavy trucks and vans weight-rated over 6,000 pounds, gross vehicle weight.
Next:
Car Expenses-Depreciation: Depreciating Heavy Trucks, Vans, and SUVs (weight-rated over 6,000 pounds)
Related Links
- Six Things to Know About Depreciating Your Car
- Depreciation Methods
- Depreciation Conventions
- 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
- Points to Keep in Mind Before Choosing a Depreciation Method
- Alternative Motor Vehicles or Plug-in Electric Vehicle Conversions
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