tax and depreciation for truckers and autohaulers

Tax (Photo credit: 401(K) 2013)

One of the biggest issues raised by carhaulers, truckers, fleet managers,and independent truck owners is the question of depreciation. When the roulette wheel called fiscal cliff negotiations turned, no one really knew where the ball would fall and how much our industry would keep or lose.

Deep inside all the political planning, the trucking industry caught a break. I would bet no one outside our industry except tax accountants even noticed, but the depreciation credit has been extended.

Simply put:

You can take a tax credit for half of cost of a truck’s acquisition cost from 2012

So instead of more regulation, more taxes, more restrictions, more hidden fees, tolls...we caught a break. I hope this trend continues.

Editorial: ‘Fiscal Cliff’ Averted (2013, January 7) retrieved from http://www.ttnews.com/articles/basetemplate.aspx?storyid=30944&t=Editorial-%E2%80%98Fiscal-Cliff-Averted

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