How do I deduct vehicles over 6000 lbs on my taxes?
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Vehicles over 6000 lbs can qualify for a Section 179 deduction or bonus depreciation if they are used more than 50% for business purposes. These deductions allow businesses to expense the cost of the vehicle in the year it is placed in service, rather than depreciating it over several years. However, the vehicle must be used for business purposes, and personal use must be accounted for separately. The deduction is limited to the business use percentage of the vehicle's cost.