CCH Projects Inflation-Adjusted 2009 Luxury Auto Limits; Limits Drop For Trucks And Vans
Working with the "new cars" and "new trucks" components of the October 2008 Consumer Price Index, CCH has calculated the unofficial depreciation limits on luxury automobiles first put into use during the 2009 tax year for business and investment purposes. Based on those inflation-adjusted computations (as specified under Code Sec. 280F(d)(7)(B)), the 2009 Code Sec. 280F limits on the amounts of depreciation deductions for passenger automobiles will remain the same as in 2008, while the depreciation limits for trucks and vans actually will drop when compared to their counterparts in 2008..............
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