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