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Luxury Automobile Limitations
Tax rules that cap the amount of depreciation or lease inclusion that can be deducted for high-cost vehicles.
Passenger Autos
Vehicles designed for personal use, including cars, vans, and some light trucks.
Section 179
A tax code provision allowing businesses to deduct the full purchase price of qualifying equipment or software within the tax year.
Schedule C
A tax form used by sole proprietors to report profits or losses from a business.
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