Tax Reform: Luxury cars depreciation limit

  • The Tax Cuts and Jobs Act (TCJA) has brought on major tax law change that impacts small businesses. The TCJA enhanced some tax breaks, repealed others and modified several deductions that are likely to affect a majority of business owners. Here’s one change.

Luxury cars depreciation limit

The TCJA increases the annual luxury car depreciation limit to $10,000 in the first year and $16,000 in the second year.

If you have any questions, visit with one of our Tax experts.


Published: 9-13-18