Under MACRS, your first year's depreciation deduction is 35 percent of the auto's cost, which is $17,500. However, under Revenue Procedure 2013-21, you can only take a maximum depreciation of $11,160.

Under MACRS, a company must use different depreciation methods for different classes of assets. For heavy machinery, MACRS requires that companies set the taxable life at 10 years and use a ...

It should be noted that the depreciation treatment of the replacement MACRS property by previous owners as well as elections made by them have no effect on determining depreciation allowances for the ...

The most common tax depreciation method used in the U.S. is the Modified Accelerated Cost Recovery System or MACRS. This accelerates depreciation and provides greater deductions in the early years.