Vehicle Depreciation Archives

Knott Learning

Bonus Depreciation Recapture When Business Use Falls Below 50%

When the business use of an asset falls below 50%, the business may have to recapture accelerated depreciation taken in earlier tax years. This example covers bonus depreciation recapture for business use vehicles.

Jason Knott2024-10-04T11:48:44+00:00Tags: Bonus Depreciation, Depreciation Recapture, Form 4562, Form 4797, Vehicle Depreciation|

100% Bonus Depreciation for SUV Purchases

For tax years 2017 through 2022, businesses were eligible for 100% bonus depreciation on certain assets. Bonus depreciation started to phaseout beginning with the 2023 tax year.

Jason Knott2024-07-12T12:15:00+00:00Tags: Bonus Depreciation, Depreciation Expense, SUV, Vehicle Depreciation|

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