Financial Services Industry
Industry: Email Alert RSS FeedEnd to cap sought on van depreciation. (TaxWatch TRENDS, RULINGS, ANALYSIS).
Investment News, November, 2001
* Christopher Bond of Missouri, the ranking Republican member of the Senate Small Business Committee, recently asked the Department of the Treasury to use its regulatory authority to exempt light trucks vans from the current limits on depreciation deductions. Section 280F (d) (5) of the Internal Revenue Code grants the Treasury Department the authority to define a passenger vehicle and to set depreciation rules.
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The law allows businesses $14,460 in depreciation ...
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