Auto depreciation limits remain unchanged for 2020

The deprecation limits for passenger automobiles remain unchanged for 2020. The IRS issued this month the annual depreciation dollar caps for vehicles purchased after September 27, 2017, and first placed in service in 2020. Those limits for taxpayers eligible for bonus first-year depreciation deduction for qualified property under Section 168(k) are: $18,100 for the placed-in-service […]

Should you lease or buy that new vehicle? The choice is yours

You’ve sifted through all the options of what year, what make and model, and even what color for your next vehicle. Now you have one more decision: Should you lease or buy? The answer depends on what your priorities and needs are. Below is a brief breakdown of the pluses and minuses of both options. […]