Is vehicles over 6000 pounds a business expense?

The deduction for vehicles over 6,000 pounds is primarily available through Section 179 and bonus depreciation. Under Section 179, businesses can deduct the full purchase price of qualifying equipment purchased or financed during the tax year, up to a specified limit. For vehicles over 6,000 pounds but less than 14,000 pounds, the maximum Section 179 deduction is limited (e.g., $28,900 for SUVs in 2023). Additionally, bonus depreciation allows for a 100% deduction of the cost of qualifying property, including heavy vehicles, in the year they are placed in service. However, the vehicle must be used more than 50% for business purposes to qualify. If the business use falls below this threshold, the deduction may be reduced or recaptured. Common misconceptions include assuming all large vehicles automatically qualify or that personal use is permissible without affecting the deduction.