NLIC.org

Billie Said:

Is a business vehicle fully deductible on income taxes?

We Answered:

Depreciation limits on business vehicles. (2010 not yet complete)

The total depreciation deduction (including the section 179 expense deduction) you can take for a passenger automobile (that is not a truck or a van) you use in your business and first placed in service in 2009 is $2,960 ($10,960 for automobiles for which the special depreciation allowance applies). The maximum deduction you can take for a truck or van you use in your business and first placed in service in 2009 is $3,060 ($11,060 for trucks or vans for which the special depreciation allowance applies).

Caution. These limits are reduced if the business use of the vehicle is less than 100%.

Alberto Said:

Is Separation of Insured generally included in Gen Liability Business Insurance Polities?

We Answered:

No, and a lot of companies won't give it to you, because it effectively raises how much they may have to pay out in a claim.