1. Discuss why Congress limits the amount of depreciation expense businesses may claim on certain automobiles.
2. Compare and contrast how a Land Rover SUV and a Mercedes Benz sedan are treated under the luxury auto rules. Also include a discussion of the similarities and differences in available $179 expense.
3. What is a $197 intangible? How do taxpayers recover the costs of these intangibles? How do taxpayers recover the cost of a $197 intangible that expires (such as a covenant not to compete)?