Want a company car that Uncle Sam will let you
write off for the most part? Then consider one of these vehicles as
your main mode of business transport.
To qualify for the deduction (Section
179 of the tax code), an SUV or light truck must have a gross
weight of at least 6,000 pounds. This is the vehicle weight plus maximum
payload and also is referred to as gross vehicle weight rating or
GVWR. Before buying any vehicle for your business, always verify the
GVWR for yourself. It usually is found on a label attached to the
inside edge of the driver's side door.
BMW X5
Ford F150 Styleside 4WD
Cadillac Escalade ESV
Ford F250 Super Duty Super Cab
Chevrolet Astro Passenger Van AWD
Ford F350 Super Duty DRW Super Cab
Chevrolet Avalanche 2500
GMC Safari AWD Passenger Van
Chevrolet Express Passenger Van 3500
GMC Savana Passenger Van 3500
Chevrolet Silverado 3500
GMC Sierra 350 &
Sierra Denali
Chevrolet Suburban 2500
GMC Yukon XL
Chevrolet Tahoe
Hummer H1 & H2
Chevrolet Trailblazer
Land Rover Discovery
Dodge Durango
Land Rover
Range Rover
Dodge Ram Cargo Van 3500
Lincoln Navigator
Dodge Ram
MaxiVan 3500
Lincoln Blackwood
Dodge Ram Wagon
Mercedes M Class
320 and 500
Dodge Ram 1500
Mercedes ML55 AMG
Dodge Ram 2500 & 3500 two-door
Porsche Cayenne,
S and Turbo
Ford Econoline
E350 Van
Toyota Land Cruiser
Ford Econoline E350 Passenger Wagon
Toyota Sequoia 4WD
Ford Econoline
E-150, E-250
and E-350
Toyota Tundra 4WD Access Cab
Ford Excursion
Volkswagen Touareg
Ford Expedition
Volvo XC90 (optional third row seating)
- advertisement -
The deduction is limited to $100,000
or your overall business income, whichever is less. Also, to get
the tax break you must use the vehicle more than 50 percent for
business.
Found an SUV or truck that's not on this list? Sorry,
but the ever-changing auto market probably has lapped our list.
Let us know
what your auto research found. In the meantime, remember that as
long as the vehicle meets the three-ton weight requirement, it qualifies
for the business-use tax break even if it's not shown here. Check
with your auto dealer and tax accountant for details before purchase.
You might want to stay in touch with your U.S. Representative
and Senators, too. A bill now in Congress, S.
1637, contains a provision to shrink the tax deduction for large
SUVs from $100,000 back to the $25,000 level.
