Charlotte Observer | 02/14/2005 | Big SUV deductions downsized
Charlotte Observer | 02/14/2005 | Big SUV deductions downsized: "For example: If you purchased a Hummer to be used for your business for $102,000 before the effective change date, the full cost could have been written off. If you purchased the vehicle between Oct. 23 and Dec. 31, your total deduction would be limited to $71,200, including the bonus depreciation. If the purchase was delayed into 2005, the deduction would be $40,400, including normal depreciation. The 50 percent bonus depreciation expired after the 2004 tax year."
- posted by Jim @ 1:31 AM