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
  • Xtend Moves Forward USDA has issued its final environmental impact statement recommending full deregulation of Monsan...
  • Land Market What could the next year hold for land values?
  • No Agreement on Tax Extenders White House spokesman Josh Earnest on Monday said in his daily briefing that the White House woul...
  • Senior Partners - 4 At-your-service consultants help you walk through estate planning from start to finish.
  • Dow's Gutsy Decision Dow's decision to launch Enlist offers some hand-selected growers a chance to test drive new tech...
  • Congress Reaches Funding Deal The overall Agriculture Department and related agencies bill would cost $20.5 billion for fiscal ...
  • Need To Bee Accurate A news story had the wires buzzing Tuesday afternoon after a report that EPA was set to restrict ...
  • Kub's Den The Dakotas lost more than $130 million in grain revenue during the 2013-14 marketing year compar...
  • Ask the Vet What can I do to improve udder quality in my herd?
Related News Stories
Year-End Tax Panic
Barge Tax Faces House Vote
Tax Extenders Talk Heats Up
Ask the Taxman by Andy Biebl
Landowner Wins Landmark Case
A Valuable Transition Tool
Ask the Taxman by Andy Biebl