Reminder about Auto Deductions
The new tax law that was enacted on December 22, 2017 greatly increased the allowable deduction for passenger automobiles that are used for business purposes in 2018 and later years. Practitioners should alert their clients about these greater deductions and use the higher limits for tax projections for the 2018 year. The limit for depreciation for vehicles placed in service in 2018 is $10,0...