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List Of Vehicles Over 6000 lbs That Qualify For The 2024 IRS Section 179 Tax Deduction

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Maximizing Tax Benefits: Section 179 Deduction for Vehicles Over 6000 Pounds in 2024: List of Vehicles to Qualifying, Depreciation, and IRS Tax Credits



Imagine you're a business owner looking to buy a new vehicle for your company. You want something sturdy and reliable, like a big truck or SUV, to help with your work. Now, imagine you also have to pay taxes on the money your business makes. But here's the good news: there's a special tax benefit called the IRS Section 179 deduction.

This deduction lets you write off the cost of certain vehicles, like those over 6000 pounds, from your taxes. It's like getting a discount on your taxes for buying a heavy-duty vehicle for your business. This list of vehicles over 6000 pounds that qualify for the deduction is super important because it helps you know which vehicles you can buy to get that tax break.

It's like having a handy guide to make sure you make the most out of your money when buying a vehicle for your business. If you're thinking about getting a big, tough vehicle for your company, checking out this list is a smart move to save some money come tax time!

What vehicles qualify for the Section 179 deduction?

Under the Section 179 tax deduction:

  • Heavy SUVs, pickups, and vans over 6000 lbs. and mainly used for business can get a partial deduction and bonus depreciation.
  • Typical work vehicles without personal use qualify.
  • Cargo vans and box trucks with no passenger seating can qualify.
  • Specialty vehicles like ambulances and hearses often qualify.

As of 2024, the deduction for vehicles weighing between 6,000 and 14,000 lbs has been adjusted. Taxpayers can now deduct up to $30,000 for qualifying vehicles falling within this weight range. However, larger commercial cars, vans, and buses continue to be exempt from this SUV rule.

Qualifying Vehicles over 6000 Pounds (lbs)

List of Vehicles 6,000 pounds or more that Qualify for Tax Incentives in 2024:

Make Model Approx GVW (Lbs)
Q7 6,900
SQ7 6,900
Q8 6,900
SQ8 6,900
X5 xDrive45e 7,165
X6 M50i 6,063
X7 xDrive40i 7,143
X7 M50i 7,143
X7 M50d 7,143
Bentayga 7,275
Bentayga Hybrid 7,165
Bentayga Speed 7,275
Flying Spur 6,724
Flying Spur V8 6,724
Flying Spur W12 6,724
Mulsanne 6,173
Mulsanne Speed 6,173
Mulsanne Extended 6,617
Enclave Avenir AWD 6,160
Enclave Avenir FWD 6,055
Enclave Essence AWD 6,160
Enclave Essence FWD 6,055
Escalade 7,100
Escalade ESV 7,300
Escalade Platinum 7,100
Escalade ESV Platinum 7,300
Silverado 2500HD 10,000
Silverado 3500HD 14,000
Silverado 4500HD 16,500
Silverado 5500HD 19,500
Silverado 6500HD 23,500
Express Cargo Van 2500 8,600
Express Cargo Van 3500 9,900
Express Passenger Van 9,600
Suburban 7,800
Tahoe 7,400
Traverse 6,160
Chrysler Pacifica 6,055
Durango 6,500
Durango SRT 6,500
Durango Citadel 6,500
Durango R/T 6,500
Durango GT 6,500
Durango SXT 6,500
Grand Caravan 6,055
Expedition 7,450
Expedition MAX 7,700
F-250 Super Duty 10,000
F-350 Super Duty 14,000
F-450 Super Duty 16,500
F-550 Super Duty 19,500
Transit Cargo Van T-250 HD 9,070
Transit Cargo Van T-350 HD 10,360
Transit Passenger Wagon 10,360
Sierra 2500HD 10,000
Sierra 3500HD 14,000
Sierra 3500HD Denali 14,000
Sierra 4500HD 16,500
Sierra 5500HD 19,500
Sierra 6500HD 22,900
Yukon 7,300
Yukon XL 7,800
Honda Odyssey 6,019
Infiniti QX80 7,385
Grand Cherokee 6,500
Grand Cherokee SRT 6,500
Grand Cherokee L 6,500
Wrangler Unlimited 6,500
Gladiator Rubicon 6,250
Land Rover
Defender 110 7,165
Defender 90 7,055
Discovery 7,165
Discovery Sport 6,724
Range Rover 7,165
Range Rover Sport 7,165
Range Rover Evoque 6,724
Range Rover Evoque R-Dynamic 6,724
Lexus LX 570 7,000
Aviator 6,001
Aviator 6,001
Navigator 7,200
GLS 580 4MATIC 6,768
GLS 600 4MATIC 6,768
G 550 4×4 Squared 7,057
GLS 580 4MATIC 6,768
GLS 600 4MATIC 6,768
AMG G 63 4MATIC SUV 6,724
Armada 2WD/4WD 7,300
NV 1500 S V6 8,550
NVP 3500 S V6 9,100
Titan 2WD S 7,300
Cayenne Turbo Coupe 6,173
Cayenne Turbo S E-Hybrid Coupe 6,173
Cayenne Turbo S E-Hybrid 6,173
Panamera Turbo S E-Hybrid 6,244
Tesla Model X 6,000
Tundra 2WD/4WD 6,800
4Runner 2WD/4WD LTD 6,300
Tundra 2WD/4WD 6,800

Criteria for Qualifying Vehicles

The eligibility for tax incentives, such as the Section 179 deduction, for vehicles with a gross vehicle weight rating (GVWR) of 6,000 pounds or more is contingent upon several key criteria. First and foremost, the vehicle must have a GVWR of 6,000 pounds or higher.

However, simply meeting this weight threshold does not guarantee eligibility. The vehicle must also be used for business purposes, meaning it must be utilized primarily for business activities rather than personal use.

Furthermore, to qualify for tax incentives, the vehicle must be purchased and placed into service within the tax year for which the deduction is being claimed. This means that the vehicle must be acquired and actively used for business operations during the same tax year in which the deduction is sought.

Vehicles with a gross vehicle weight rating of 6,000 pounds or more may qualify for tax incentives, such as the Section 179 deduction, if they meet specific criteria including business usage and purchase and placement into service within the applicable tax year.

Further Reading: Find heavy vehicles for big tax breaks in 2024!

Can I get a tax write off for vehicle over 6,000 lbs?

Yes, you can get a tax write-off for a vehicle over 6,000 lbs if you use it for business purposes. The tax write-off is known as the Section 179 deduction, which allows you to deduct the cost of qualifying vehicles from your taxable income. However, there are a few factors to consider:

1. The vehicle must be used primarily for business purposes and not for personal use.
2. There is a limit on the total amount of the deduction, which changes each year.

Moreover, if the vehicle is financed, the deduction may be limited to the amount you actually paid during the tax year. It is important to keep detailed records and documentation to support your deductions.

Luxury Vehicles over 6000 lbs and the Section 179 Deduction

While luxury vehicles are generally not eligible for the Section 179 deduction, there is an exception for SUVs and trucks that are used for business purposes. The IRS has set a limit on the depreciable value of luxury SUVs and trucks, which can still provide some tax benefits.

However, it's important to note that only vehicles that qualify as business vehicles, meeting the criteria outlined in the tax code, may qualify for a Section 179 deduction. This includes passenger vehicles, sport utility vehicles, and trucks used primarily for business purposes.

The deduction limit, which changes annually, dictates the maximum amount that can be deducted using a Section 179 deduction. Also, bonus depreciation allows for additional deductions on qualifying vehicles. To ensure compliance with current tax laws and maximize tax benefits, consulting with a qualified tax advisor or accountant is recommended.

It's important to note that vehicles must be used for business purposes more than 50% of the time and must be purchased and placed into service by December 31 of the tax year to claim the deduction.

Vehicle Valuation Experts and the IRS Section 179 Deduction

When claiming the Section 179 deduction, it is advisable to consult with a tax professional or vehicle valuation expert who can accurately assess the vehicle's value and ensure compliance with IRS guidelines. They can help determine the depreciable value and provide documentation to support the deduction.

This is especially important for vehicles that qualify for Section 179, as the deduction amount can vary based on factors such as the cost of the vehicle, its weight, and its intended business use. Working with an accountant or tax professional can help minimize tax liability and maximize the valuable tax incentive provided by Section 179.

Steps to Claim the Section 179 Vehicle Deduction

  1. Determine Eligibility: Ensure that the vehicle meets the criteria outlined in the tax code that allows for the Section 179 deduction. This includes verifying that the vehicle is used primarily for business purposes, has a gross vehicle weight rating (GVWR) that qualifies, and was purchased and placed into service within the tax year.
  2. Gather Documentation: Collect all relevant documentation related to the vehicle, including purchase receipts, vehicle specifications (such as GVWR), and any other records that support its business use.
  3. Calculate Depreciation: Use IRS Form 4562 to calculate the depreciation deduction for the qualifying vehicle. This form helps determine the depreciable value of the vehicle and is crucial for accurately claiming the deduction.
  4. Consult a Tax Professional: It is advisable to consult with a tax professional or accountant who is familiar with Section 179 deductions and vehicle depreciation. They can provide guidance on completing Form 4562 and ensure compliance with IRS regulations.
  5. Complete Form 4562: Fill out IRS Form 4562 accurately, providing all necessary information about the vehicle and its depreciation. This form will be attached to your tax return when claiming the Section 179 deduction.
  6. File Your Tax Return: Include the completed Form 4562 along with your tax return, making sure to follow all instructions provided by the IRS for claiming the Section 179 deduction.
  7. Review for Accuracy: Before submitting your tax return, review all information and calculations to ensure accuracy and completeness. Any errors or discrepancies could lead to delays or complications with your tax filing.
  8. Keep Records: Maintain thorough records of the Section 179 deduction claim, including copies of Form 4562 and supporting documentation. These records will be important for tax preparation in subsequent years and in the event of an IRS audit.

2024 Section 179 Tax Deductions for Small Business Owners

The Section 179 deduction is especially beneficial for small business owners, as it allows them to immediately deduct the full purchase price of qualifying vehicles instead of depreciating the value over several years. This can provide significant tax savings and help stimulate business growth.

Heavy vehicles with a gross vehicle weight rating (GVWR) that meets the criteria for Section 179 vehicles for 2024 are eligible for this deduction, provided they are used for business purposes more than 50% of the time. By taking advantage of this deduction, business owners can reduce their federal tax liability and offset the cost of vehicles rated for Section 179.

Keeping track of mileage for these vehicles can also provide additional tax benefits, making it essential for business owners to understand the potential savings available through Section 179 deductions in the first year they are used.

Further Reading: Boost your 2024 savings! Learn easy tax tricks for small businesses.

Summary about Vehicles over 6,000 pounds

The list of vehicles that qualify for section 179 vehicles for 2024 includes those with a weight of over 6,000 pounds. The cost of a vehicle weighing above this threshold can be deducted using partial section 179 for business purposes more than 50.

Vehicles in 2024 that would otherwise not qualify for such deductions can benefit from this provision. Various types of vehicles are eligible for this tax break, as long as the GVWR exceeds 6,000 pounds. Annual depreciation caps also apply to these vehicles, limiting the total deduction amount.

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March 19, 2024


Steven de la Fe, CPA

Steven de la Fe, CPA


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