What is the 2014 luxury Auto limit?
IRS issues 2014 auto depreciation limits; luxury begins at $15, 800. (Now updated for Extender Bill changes)
The updated 2014 numbers:
The updated 2014 limits for trucks and vans:
The old numbers, issued before the extender bill was passed, are below.
The IRS has released the 2014 limits on depreciating autos, trucks and vans for 2014 (Rev. Proc. 2014-21). These assets are subject to special annual depreciation limits, often known as the “luxury auto” limits. The limits are lower than last year because of the expiration of the “bonus depreciation” rules. While bonus depreciation may be retroactively applied to 2014 later this year, these limits reflect what the law is for now, and what it will be if Congress does nothing.