Can you write off suv over 6000 pounds?
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The IRS allows businesses to deduct the cost of certain vehicles, including SUVs over 6,000 pounds, as a business expense under Section 179. However, the vehicle must be used more than 50% for business purposes. The deduction is limited to $28,900 for SUVs in 2023. Additionally, the total Section 179 deduction is subject to a maximum limit of $1,160,000 for all qualifying property, and the total amount of property placed in service cannot exceed $2,890,000. Vehicles that do not meet these criteria may still qualify for bonus depreciation.