Luxury Auto with Bonus and Ceiling --- Asset Issue
We have several vehicles that we purchased in 2009 that fall into the category of Luxury vehicles by IRS standards. 2009 was also a 50% Bonus deduction year for these assets. To date, we have been unable to find a plausible solution to properly calculate depreciation for the initial year and subsequent years using Oracle delivered MACRS methods. The closest we have been able to come to the depreciation allowable by IRS standards is using Oracle delivered method “MACRS 50B HY” for a 5 year asset applying a ceiling of $10,960.00 in the first year. I have attached the example