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Depreciation Nit-picks That Could Cost You

  • 23 April 2014
  • Author: Cari Holbrook
  • Number of views: 2371
  • 0 Comments
Depreciation Nit-picks That Could Cost You

When it comes to your interpretation of tax laws and that of the IRS: a court may decide.  This was a tough lesson learned by Michael Brown, a wealthy life insurance salesman who recently lost a $11.2 million bonus depreciation claim over a seemingly simple oversight.  His story brings to light several lessons for business owners: be aware of the current depreciation laws for business vehicles, interpret them correctly, and choose your words wisely in court.

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