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Originally Posted by bjo
All, I am a self-employed consultant whose main place of business is his home. My wife and I are considering an X5 and I understand that I maybe able to write off a nice portion of the cost since the GWVR is 6000lbs. Since it will be used 70% of the time for business, I understand that I will be able to write off 70% of the max ($25k) deduction? Is this correct? Are any of you all doing this? Thanks
-BJ
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The max amount of the cost of an SUV that may be expensed under Sec. 179 if the SUV is exempt from the luxury car caps (e.g., is built on a truck chassis and has a GVWR in excess of 6k lbs) is limited to $25k (or the business use % of) placed in service after 10/22/04.
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