The 2010 section 179 limit will be $250,000 and the phase out will begin at $800,000.
Assets placed in service from 2008 through 2010 are allowed 50% bonus depreciation. The first-year automobile limits are increased by $8,000.
Depreciation Rules for 2010
Depreciation rules for Autos and Trucks placed in service in 2010.
| Year | Passenger Autos | Trucks |
| 1st Year | $3,060 | $3,160 |
| 2nd Year | $4,900 | $5,100 |
| 3rd Year | $2,950 | $3,050 |
| Each succeeding year | $1,775 | $1,875 |
Using the additional 50% bonus depreciation for example on an automobile acquired in 2010 would result in a maximum depreciation deduction of $11,060 ($3,060 plus $8,000 bonus depreciation). Allowable deductions must still be multiplied by the business use percentage.
Passenger vehicles are defined as four-wheeled vehicles with an unloaded gross vehicle weight of 6,000 pounds or less and manufactured primarily for use on public streets, roads, and highways.
Trucks are defined as trucks, vans and SUV's that are passenger automobiles built on a truck chassis, manufactured primarily for use on public streets, roads, and highways and that have an unloaded gross vehicle weight of less than 6,000 pounds that do not meet the description of a non-personal use vehicle.
SUV limitations
The section 179 deduction is limited for SUV's to a maximum of $25,000. SUV's that are exempt non-personal vehicles are built on a truck chassis and have an unloaded gross vehicle weight of more than 6,000 pounds and less than 14,000 pounds.
California still limits the overall section 179 deduction to $25,000.
All depreciation limits above are adjusted for the business use of the vehicle.