[F]irst write off $25,000, which is the limit for first-year expensing of these vehicles. Next, you apply 50% bonus depreciation to the remaining $25,000 of cost, which allows you to write off another $12,500. Finally, you deduct 20% of the $12,500 balance as regular depreciation. Your total tax savings: A whopping 80% of the purchase price -- or $40,000.
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