Is what vehicles are over 6000 lbs a business expense?
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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 in the year the vehicle is placed in service, subject to limits. To qualify, the vehicle must be used more than 50% for business. The deduction is limited to the business-use percentage of the vehicle. Additionally, bonus depreciation may be applied to further reduce taxable income. However, luxury vehicle limits do not apply to these heavier vehicles, making them more attractive for tax purposes. It's important to note that personal use of the vehicle must be excluded from the deduction calculation.