Posts by Auto Dealerships

Floorplan Interest Remains Deductible but with Depreciation Implications

Retail automotive dealerships historically have often taken advantage of significant depreciation deductions due to the high cost of their facility improvements and their rental fleet which is typically not subject to luxury auto limits. The 2017 Tax Reform Act has significantly expanded accelerated depreciation methods under Section 168(k) (bonus depreciation) and Section 179. Under the…

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