Well for every dollar value you depreciate, you get back a fraction of a dollar equal to your tax bracket percentage. But yes if you lose 10k in depreciation you’ll get back say 20% or $2k and actually lose $8k in vehicle cost. You’re a real cup is 1/5 full kind of optimist huh?

Well of course that’s still 54 cents times your tax rate percentage. For most of these people the actual money back is going to be about 10 cents per mile. If you’re being taxed 20 cents per dollar than a one dollar deduction can only save you the 20 cents back.