Is what vehicles are over 6000 lbs a valid tax write-off?
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Vehicles with a gross vehicle weight rating (GVWR) over 6,000 lbs can be eligible for a Section 179 deduction, which allows businesses to deduct the full purchase price of qualifying equipment and vehicles purchased or financed during the tax year. To qualify, the vehicle must be used more than 50% for business purposes. The deduction is limited to the business-use percentage of the vehicle's cost. Vehicles such as SUVs, trucks, and vans often qualify, but luxury vehicles may have additional limitations. The maximum deduction for SUVs is capped at $28,900 for the 2023 tax year, while other vehicles may qualify for the full Section 179 limit of $1,160,000, subject to business income limitations.