However, we have a wrinkle. For machinery including passenger cars, trucks and vans purchased after September 8, 2010 and before January 1, 2012 the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 increased first year bonus depreciation for NEW equipment purchased and placed in service to 100%. ...Technically, the law that established MACRS/IRS depreciation did not take into account future laws limiting passenger auto depreciation, nor bonus depreciation-therefore when 100% depreciation is taken, there is nothing left to depreciate... Read more »