It was nice while it lasted.
Bonus depreciation enabled car rental companies to deduct 100% of the cost of new capital purchases in 2011 and 50% in 2012 and 2013. Now that bonus depreciation officially ended Dec. 31, 2013, car rental companies that took advantage of bonus depreciation need to start planning strategically for significantly higher taxes in 2014.
At the 2014 Car Rental Show seminar “Are You Prepared for the 2014 Tax Hit?” attendees will gain strategies to estimate their 2014 tax hit and plan for the new tax landscape, as well as how to take advantage of the tax savings generated by a like-kind exchange (LKE) program.
The seminar will also engage in a discussion on how tax reform could affect car rental companies and when it might happen.
In addition, the seminar will educate car rental companies on federal and state tax incentives they may not have known were available to the auto rental industry.
Presented by David Fowler of PricewaterhouseCoopers and Robert Salazar, CPA at The Tax Solutions Group, the seminar will take place at 11 a.m. on Tuesday April 8.
The 2014 Car Rental Show convenes April 7-8 at the Rio All-Suite Hotel & Casino in Las Vegas. Visit www.carrentalshow.com for more information.