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
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Car depreciation write-offs hit the skids

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in Small Business Tax

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.

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