Posted by JasonW on July 11, 2002 at 10:40:03:
You are referring to a Section 179 expense. This is a form of accelerated depreciation on assets that allows you to depreciate around $20,000 of assets in the current year. This will be listed as depreciation expense on your corporate tax return. Remember, though, once you have used this expense, your depreciation next year will be much lower as you have already depreciated most of the vehicle’s value. Your accountant will have a list of vehicles that meet Sec. 179 criterion because I have seen some that were not quite 6000# get Sec. 179 depreciation. HTH.