I am in the process of purchasing a new company car. About 2-3 years ago a friend of mine was telling me about some tax loophole for cars weighing over 6000 lbs, officially Section 179. With this loophole, from what I understand, you are able to write off up to $25k in the first year, plus all other depreciation.

I found this on the IRS website:

http://www.irs.gov/businesses/small/...137022,00.html

I tried looking for more current information, but couldnt really find anything.

Does anyone know about this? Is this loophole still in play?

I'm thinking of getting a GMC Acadia. Its gross weight is 6398 lbs and curb 4936 lbs.

 

haha it would be funny if it still existed, takes a lot of gas to move 6000 lbs!

 

that was a while ago, they called that the "SUV Loophole" about any vehicle over 6000lbs being a commercial vehicle but it got so much bad press I think they ammended that. If your a biz owner just lease it and write it all off and you can get any car , not just a pig SUV

 

Only thing i have seen give tax credit lately is for the hybrid cars.. Husband and i almost got one 2 years ago and said screw it lets get STi's lol.

 

That 6,000lb "loophole" still exists, but your job must be Agriculture related.