The popular SUV Deduction has been limited by the new tax laws. Consider one of these vehicles as your main mode of business transport to take advantage of the $25,000 deduction.
To qualify for the deduction (Section 179 of the tax code), an SUV or light truck must have a gross weight of at least 6,000 pounds. This is the vehicle weight plus maximum payload and also is referred to as gross vehicle weight rating or GVWR. Before buying any vehicle for your business, always verify the GVWR for yourself. It usually is found on a label attached to the inside edge of the driver's side door.
|
| BMW X5 |
Hummer H1 & H2 |
|
Cadillac Escalade ESV |
Infinity QX56 SUV |
| Cadillac Escalade pickup |
Isuzu Ascender SUV |
|
Chevrolet Astro Passenger Van AWD |
Land Rover LR3 SUV |
| Chevrolet Avalanche pickup |
Land Rover Range Rover SUV |
|
Chevrolet Express Van
|
Lexus GX470 |
| Chevrolet Silverado pickup |
Lexus LX470 SUV |
| Chevrolet Suburban SUV |
Lincoln Aviator SUV |
| Chevrolet Tahoe SUV |
Lincoln Navigator SUV |
| Chevrolet Trailblazer SUV extended models only |
Mercedes G500 SUV |
|
Dodge Dakota Club Cab 4 door |
Mercedes G55 AMG SUV |
| Dodge Dakota Quad Cab 4 door |
Mercedes ML350 SUV |
Dodge Durango SUV |
Mercedes ML500 SUV |
Dodge Ram pickup |
Nissan Armada SUV |
| Dodge Sprinter van |
Nissan Titan pickup |
Ford Econoline E350 Van |
Porsche Cayenne SUV |
Ford Econoline E350 Passenger Wagon |
Saab 9-7x SUV |
| Ford Econoline E-150, E-250 and E-350 |
Toyota 4Runner Limited V8 4WD SUV |
| Ford Excursion |
Toyota 4Runner Sport V8 4WD SUV |
| Ford Expedition |
Toyota 4Runner SR5 V8 4WD SUV |
| GMC Envoy SUV Denali |
Toyota Land Cruiser SUV |
| GMC Safari Passenger Van AWD |
Toyota Sequoia SUV |
| GMC Savana van |
Toyota Tundra Access Cab |
| GMC Sierra pickup
|
Toyota Tundra Double Cab |
| GMC Yukon SUV |
Volkswagen Touareg SUV |
| Honda Ridgeline pickup |
Volvo XC90 |
|
| SUVs with loaded gross vehicle weight greater than 6,000 pounds are not considered passenger automobiles under the Internal Revenue Code and therefore are not subject to the yearly depreciation limits for autos.
These qualifying SUVs, which have greater than 50% business use, can be expensed in the year of purchase up to $25,000 if purchased after October 22, 2004.
Previously the deduction was up to $102,000.
|
