Investopedia

Luxury Automobile Limitations

Filed Under » ,
Dictionary Says

Definition of 'Luxury Automobile Limitations'

An annual limit on the amount of depreciation that can be taken on a luxury car used for business purposes. This amount is indexed each year for inflation. The purpose of luxury automobile limitations is to control the type and amount of money spent on luxury automobiles by businesses for tax purposes.
Investopedia Says

Investopedia explains 'Luxury Automobile Limitations'

The limitations apply to any four-wheeled vehicle used primarily on public streets. The economic stimulus package of 2008 temporarily raised the luxury automobile limitations to $10,960 for cars and $11,060 for trucks and vans. There are several different categories of luxury cars, and each has a different depreciation schedule.

Articles Of Interest

  1. Top 10 Ways To Get Top Dollar For Your Car

    Find out what steps you can take to reduce the depreciation of your vehicle.
  2. Save On Planes, Trains And Automobiles

    Getting to, and around, your travel destination doesn't need to break the bank.
  3. 12 Car Insurance Cost-Cutters

    If car costs are dragging you down, find out how to free yourself from some of the extra weight.
  4. Benefits for Members of the Armed Forces

    If your plans have been affected by your time in the combat zone, fear not!
  5. The True Cost Of Owning A Car

    Driving is often the most convenient way to get around, but it'll cost you.
  6. Are there special benefits for U.S. armed forces personnel?

    If you are a member of the military, you may be afforded special tax benefits that might not be available to other taxpayers. These include the following:Automatic ExtensionIf you are serving ...
  7. Mondelez Isn't As Good As Nestle, But Priced Like It Is

    Investors seem to bullish on Mondelez, given the relative performance at Kellogg and Nestle.
  8. How Spring Cleaning Can Make You Money

    Spring cleaning is a well-established tradition, but you can also make money by selling your unwanted goods.
  9. 5 Painless Ways To Save More Money

    Saving money can be a chore, but these tricks put money in your pocket with no effort at all.
  10. Restaurant Segments Going Under

    Diners are as American as apple pie, yet their popularity is waning with today's consumers.
comments powered by Disqus
Marketplace
Hot Definitions
  1. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.
  2. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.
  3. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.
  4. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.
  5. Icarus Factor

    The term Icarus factor describes a situation where managers or executives initiate an overly ambitious project which then fails. Fueled by excitement for the project, the executives are unable to reign in their misguided enthusiasm before it is too late to avoid the failure.
  6. Angelina Jolie Stock Index

    An index made up of a selection of stocks from companies associated with actress Angela Jolie.
Trading Center