Is suv over 6000 pounds a business expense?

To deduct the cost of an SUV over 6,000 pounds, it must be used more than 50% for business purposes. Under IRS Section 179, you can immediately expense up to a certain limit of the vehicle's cost, subject to an annual cap, which was $1,160,000 for 2023. Additionally, bonus depreciation allows for a 100% deduction of the remaining cost in the first year, but this is set to phase down in future years. The vehicle must be new to you, though it can be used. If the business use is less than 50%, you must use the straight-line depreciation method instead. Common misconceptions include assuming personal use qualifies or that any large vehicle automatically qualifies without meeting business-use requirements.