Car depreciation write-offs hit the skids — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
The new IRS tables for business vehicles placed in service in 2006 set
the depreciation limits at a paltry $2,960 for the first year, $4,800
for the second year, $2,850 for the third year and $1,775 for each
succeeding year. (IRS revenue procedure 2006-18) With these figures—which barely budged from 2005—it will take more than a decade to recoup the full cost of most business cars.