Business Vehicle Expenses – Depreciation Allowed

Posts Tagged ‘150% Declining Balance Method’

Business Vehicle Expenses – Depreciation Allowed

By Luci Roseman Taxpayers are able to depreciate their vehicle if it is used for business purposes. Generally the 200% Declining Balance Method is used over a five year life. This method results in greater deprecation at the beginning of the five-year period and less at the end. Taxpayers may also elect to use the…

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