1998 luxury auto depreciation limits.The IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. released the inflation-adjusted limitations on the depreciation of 1998 luxury and electric cars. Revenue procedure 98-30 also includes the income inclusion amounts for business cars first leased in 1998 and the maximum value of employer-provided autos for which the vehicle cents-per-mile valuation rule applies. The inclusion amounts for leased autos are essentially the same as for 1997. The inflation-adjusted figure for computing the cents-per-mile valuation is $15,600, down $100 from 1997. Observation. This is the first time the inflation-adjusted limits for luxury autos have declined. The limits on luxury autos for the first, second, fourth and succeeding years are identical to the 1997 limits; however, the limit for the third year is $100 less. The limits for electric autos for each of the first three years are $100 less than the 1997 limits, with the fourth and succeeding years' limits identical to the 1997 limits. --Tina Steward Quinn, CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. , PhD, assistant professor of accountancy, Arkansas State University Arkansas State University, at Jonesboro; coeducational; chartered 1909; named State Agricultural and Mechanical College, 1925–33. In 1933 the school became Arkansas State College, and in 1967 it achieved university status and adopted its present name. and Tonya K. Flesher Flesh´er n. 1. A butcher. A flesher on a block had laid his whittle down. - Macaulay. 2. A two-handled, convex, blunt-edged knife, for scraping hides; a fleshing knife. , CPA, PhD, Arthur Andersen Lecturer and professor of accountancy, University of Mississippi The University of Mississippi, also known as Ole Miss, is a public, coeducational research university located in Oxford, Mississippi. Founded in 1848, the school is composed of the main campus in Oxford and three branch campuses located in Booneville, Tupelo, and Southaven. . |
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