100% Bonus Depreciation for SUVs for Your Business

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Bonus depreciation limits apply to the following years:
2023: 80%
2024: 60%
2025: 40%
2026: 20%
2027: 0%

Did you hear you can deduct 100% of the purchase price of a new vehicle if it weighs more than 6,000 pounds? The 100% bonus depreciation phased out after the 2022 tax year.

Well, that is partially true...

In this video, I detail the bonus depreciation deduction rules for vehicles used in a trade or business that exceed 6,000 pounds in gross vehicle weight rating.

If you have a vehicle that later falls below 50% business use, you'll have some bonus depreciation recapture. View our video here on the recapture issue:
   • Bonus Depreciation Recapture - When Busine...  

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