Depreciation on Luxury Autos

1. Do the 2017 depreciation rules for luxury automobiles make sense to you? Why or Why not? Include Section 179 and bonus depreciation as part of your answer. 2. What changes were made in the tax reform act for 2018? 3. Do you agree with these changes? Why or Why not? 4. Would your opinion change if your business bought a $60,000 Mercedes Benz sedan (considered a luxury car) and your competitor purchases a $60,000 Land Rover SUV (weighting over 6,000 pounds)? Why or why not?

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