The Internal Revenue Service allows companies to recover the cost of certain types of property through a yearly tax deduction called depreciation. This tax deduction compensates businesses for the ...

Property depreciation is the gradual reduction in the value of a property over time due to factors like wear and tear, which can be used for tax deduction purposes. Property depreciation is typically ...

The Internal Revenue Service considers any auto with an unloaded gross weight of 6,000 pounds or less a luxury vehicle. It gives you two ways to depreciate a luxury auto used for business purposes.