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Smart Tax Write-offs 2017—2018 Update

SMART TAX WRITE-OFFS  2016-2017 UPDATE

Page 39 & 48 — Section 179 Deduction Limits

2017 ….. $500,000

2018 ….. $1,000,000

 

Page 39 & 48 — Section 179 Investment Limits

2017 ….. $2,000,000

2018 ….. $2,500,000

 

Page 41 — Car Business Expenses

2017 Standard Mileage Rate is 53.5¢

2018 Standard Mileage Rate is 54.5¢

 

Page 42 — Maximum Depreciation Deductions for Vehicle Placed in Service in 2017

……………………………………….. Passenger Car …………… SUV, Van Truck

First year depreciation……………………$3,160 ……………………$3,560

Second year depreciation…………………..$5,100 ……………………$5,700

Third year depreciation……………………$3,050 ……………………$3,450

Fourth & succeeding years………………$1,875 ……………………$2,075