Depreciation and purchase of car


One of the factors which many small business owners and professionals consider while purchasing a car is the depreciation that they are allowed depreciation on the car, which they can write off as a business expenses. If the professionals or business owners did not own a car, they would have to spend money for conveyance which they can write off as a business expense.
So many cars are purchased in september and march so that the business owner can avail of depreciation as the financial year for tax purposes ends in March of every year. The depreciation for a car which is purchased in March will be the same as that for the car which is purchased in October of the previous year. So car advertisers are often advertising more in March and September , hoping that car buyers finalize the purchase
In addition to depreciation there are many car related expenses like car insurance, maintenance expenses, fuel charges, parking space.