The Internal Revenue Service considers any auto with an unloaded gross weight of 6,000 pounds or less a luxury vehicle. It gives you two ways to depreciate a luxury auto used for business purposes.

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Lea Uradu, J.D., is a Maryland state registered tax preparer, state-certified notary public, ...

Corporate financial statements, such as income statements, cash flow reports and balance sheets, all employ generally accepted accounting principles, or GAAP, as the basis for their formats. Companies ...

As you may be aware, the year-end fiscal cliff deal brought 50 percent bonus depreciation back from the dead for 2013, once again providing taxpayers the opportunity to immediately deduct half the ...

One of the more robust tax incentives over the past several years has been Bonus Depreciation. This tax provision allowed companies to accelerate depreciation on purchased equipment to the year it was ...

Property owners use depreciation to deduct certain costs of a rental property over its useful life. Eligibility for depreciation requires the property to be owned, used for income, and have a ...