Is cars over 6000 lbs a business expense?
Vehicles with a gross vehicle weight rating (GVWR) over 6,000 lbs may qualify for a Section 179 deduction, allowing businesses to deduct the full purchase price of qualifying equipment purchased or financed during the tax year. However, the vehicle must be used more than 50% for business purposes. If the vehicle is used less than 100% for business, only the business-use percentage of the cost is deductible. Additionally, there are limits on the amount that can be deducted under Section 179 for vehicles, and luxury vehicle limitations may apply.