Important Changes To The Tax Code Regarding Business Vehicle Use

Originally released by the IRS in 2003

Depreciation limits on cars. Generally, the total section 179 and depreciation deductions you can claim for a car that you use in your business and first placed in service in 1999 is $3,060.

Exceptions for clean-fuel cars. There are two exceptions to the depreciation limits for cars that run on clean fuel. Temporary work location. The IRS has reconsidered its definition of temporary for purposes of determining whether travel expenses to a temporary work location are deductible. In general, employment at a work location is temporary if it is realistically expected to last (and does in fact last) for one year or less. 

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