The Internal Revenue Service allows companies to recover the cost of certain types of property through a yearly tax deduction called depreciation. This tax deduction compensates businesses for the ...

The Internal Revenue Service considers any auto with an unloaded gross weight of 6,000 pounds or less a luxury vehicle. It gives you two ways to depreciate a luxury auto used for business purposes.

Property depreciation is the gradual reduction in the value of a property over time due to factors like wear and tear, which can be used for tax deduction purposes. Property depreciation is typically ...