Is cars over 6000 lbs a business expense?

Vehicle_Expensessmall businessconstructionreal estatetransportationexpensebusinesscar

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.

Popular Related Pages

Related Questions