NEWS
Taxlink by Andy Biebl
Andy Biebl DTN Tax Columnist
Mon Apr 29, 2013 11:18 AM CDT

It shouldn't be this complex. The client simply wanted to know how much depreciation could be claimed in 2013 if he bought a new vehicle. It required a series of questions from me and a lengthy discussion. Here's what you should know to shorten future conversations on this topic.

THE 6,000-POUND TEST

The tax code severely restricts not only first-year but annual depreciation on any vehicle, whether a car, truck or van, if the gross vehicle weight rating (GVWR) is 6,000 pounds or less. Virtually all cars are under this limit, as well as most smaller trucks, vans and SUVs. ...

Quick View
  • Prepping for a Pest USDA has released a new set of pest response guidelines for Helicoverpa armigera, the voracious g...
  • Racing the Clock For Brian Marshall, the clock starts the minute a new calf hits the ground. Within the first four...
  • Hay Baling Safety Important Looking at it as a sporting event, mid-July is the halftime of the hay baling season in most of t...
  • "Easy Money Times Over" Feeding the world population won't be as hard as expected over the next decade some experts forec...
  • Weathering the Drought Parts of the panhandle and western Oklahoma are still considered as being in extreme or exception...
  • Clearing the Air EPA Administrator Gina McCarthy told a group of agribusiness representatives that her agency want...
  • Klinefelter: By the Numbers Peak prices since 2007 didn't slow megafarm consolidation. Mid-size operators may need to collabo...
  • Corn's Hidden Highways Scientists are rewriting the route to better hybrids.
  • Ask the Vet Before implanting heifers that will be bred, consult with a veterinarian to be sure fertility won...
Related News Stories
IRS Targets "Passive" Landowners
House OKs Business Tax Breaks
Ask the Taxman by Andy Biebl
Ask the Taxman by Andy Biebl