Is there a limit on the age of the SUV for the Section 179 tax deduction for small businesses?
May 6th, 2010I understand the basics of this tax deduction and that you can deduct the value of the SUV/Truck up to ,000 and that the GVW has to be over 6000lbs, however, is there an age limit to how old this vehicle can be to qualify for the full tax advantage?
Replys
You can only take the Section 179 deduction in the year the asset is purchased. If you bought a "used" vehicle for business purposes, the year of the auto does not affect the Sec 179 deduction.
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