Vehicle Tax Deduction: 8 Cars You Can Get TAX FREE - Section 179

Описание: All businesses should definitely know about the vehicle tax deduction. in 2021. Because this car tax deduction allows you to write off vehicle tax expenses. And when done correctly can save huge in taxes. In some cases, the vehicle tax deduction can get a car literally for free with section 179.

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NOTE: When it comes to Section 179, there is a $25,000 cap for all other “heavy” vehicles like the G-Wagon mentioned. To take the full accelerated depreciation you must have a vehicle that is described as a passenger van, utility truck or utility van.

In this video, I will go over a list of vehicles that have a GVWR (Gross vehicle weight rating) of 6,000 pounds or more. Which qualifies for the vehicle tax deduction and section 179 accelerated depreciation.

Okay, before we dive into the list, let me quickly explain what the vehicle tax deduction is.

So, if you operate a business or if you are self-employed, then the tax code is set up in a way that allows you to write off business vehicle expenses and cost.

There are two methods for this… You have the standard mileage rate deduction which calculates how many business miles you have driven and gives you a deduction based on that.

And then you have the actual expenses deduction which allows you to write off the direct costs of the vehicle including depreciation.

Outline for Vehicle Tax Deduction:

Vehicle Tax Deduction 6,000 lbs: (0:00)
Section 179 cars for 100% write off: (0:44)
What is Vehicle Tax Deduction?: (1:03)
Write off Car with section 179 vehicle tax deduction: (1:37)
Car write off #1: (3:44)
Car write off #2: (4:30)
Car write off #3: (5:45)
Car write off #4: (6:11)
Car write off #5: (6:32)
Car write off #6: (7:25)
Car write off #7: (7:44)
Car write off #8: (8:08)
Vehicle Depreciation recapture: (8:39)

Want to learn more about vehicle tax deductions? Watch the videos below:
"How to Write Off Your Dream Car:    • How to Write Off Your Dream Car Tax Free i...  

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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).