There Has Never Been a Better Time to Buy new Company Car’s and Truck’s Than Now!
The Kiplinger Tax Letter Recently Reported this:
"Buyers of business vehicles get lots of juicy tax breaks under the new law. The annual depreciation caps for passenger automobiles are going up. For vehicles placed in service after 2017 and for which 100% bonus depreciation is not claimed, the first-year ceiling is $10,000. The second- and third-year caps are $16,000 and $9,600. After that...$5,760.
These figures will be inflation-adjusted. If bonus depreciation is claimed, the ceiling increases to $18,000 for the first year. Buyers of heavy SUVs used for business can write off up to 100% of the cost, thanks to bonus depreciation. SUVs must have a gross weight rating over 6,000 pounds to qualify. It doesn’t matter if the SUV is new or used. And you can also expense up to 100% of the cost of heavy pickup trucks if the cargo bed is at least six feet long."
Please consult with your CPA for complete details.