New Truck Depreciation Schedule

613064

{"text":"Hello all.\nI purchased a new truck in 2015. Last year, my accountant used a depreciation amount of $40,000. I didn't question it too much, seemed a little high, but OK.\nFor 2016, I am told that I am required to depreciate the truck by about $75,000. What???? Required? His explanation was since we took the 40k the first year we have to follow some Kenworth schedule.\nThen he tells me I'll get about 18k next year and then about 12k the following year.\n\nThis info is all new to me and does not make any sense. In reality, the truck depreciates the most the first year then less the second year and so on.\n\nFor 2016, I'll be showing a loss with per diem and other purchases I made.\n\nCan anyone comment? I would love to lower the amount for 2016 and save some depreciation for the next couple of years.\n\nAt this rate I'll be making payments in a couple of years with high principle and no deduction to offset.\n\nThanks.","pics":"[]","canComment":true}