A Big Deduction for Big Vehicles
If you recently purchased, or are thinking about buying, a truck or SUV for your business, see if it qualifies for a heavy-duty tax break. Vehicles that tip the scales at more than 6,000 pounds – curb weight plus maximum cargo and passenger load -- can be "expensed," meaning you can deduct at least part of the cost right away rather than being constrained by limited depreciation write-offs over a number of years.
The tax law signed by President Bush last year bumped up the maximum expensing amount to $100,000. So if you’re in the 35% tax bracket you could buy a $71,000 Range Rover and Uncle Sam would pick up $24,850 of the tab.
We’ve listed about 500 SUVs and pickup trucks that are big enough for this tax break. Select your type of vehicle below.
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