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Article Date:
April 2009

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IRS Releases the New Luxury Vehicle Depreciation Limits for 2009

If the luxury vehicle depreciation limits apply to your vehicle, you need to pay attention to your back end. Why? Your back end might have a big basis.


First, if own your business vehicle, realize that you have a back end. Your back end might be large. It might be small. But you have a back end when you deduct your vehicle by using Section 179 expensing, bonus depreciation, or IRS mileage rates.


Let’s examine a back end to see how the rules work.


Say you purchase a 7 Series BMW today for $80,000. You claim 100 percent business use for the next seven years and sell this vehicle in March of its eighth year. How big is your back-end basis ... Log in to view full article.

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