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If it weighs over 6000 pounds and you have a small business, you can completely write off 100% of the purchase in one year.
by supportengineer 3y ago
If it weighs over 6000 pounds and you have a small business, you can completely write off 100% of the purchase in one year.
- pjot 3y agoCan you explain more? Not sure how that’s possible
- voidfunc 3y agoStandard tax deduction for businesses as a work truck. Technically you need to be using it only for business reasons but we all know how fuzzy small business owners get with that kind of stuff sometimes.
- shampine 3y agoProbably referring to a section 179 deduction which gives you a $25k deduction on your taxable income for vehicles that weigh more than 6000lbs.
- er4hn 3y agoaka the Benz AMG exception: https://www.mbotw.com/section-179-tax-exemption/ https://www.mbotw.com/section-179-tax-exemption/
- toomuchtodo 3y agohttps://www.tesla.com/support/incentives https://www.tesla.com/support/incentives > Qualifying businesses can claim a deduction of up to $28,900 when purchasing a new Tesla vehicle with a gross vehicle weight rating (GVWR) of at least 6,000 pounds. To qualify for the tax deduction, vehicles must be operated for legitimate business use >50% the time.
- solardev 3y agoWhy are we incentivizing huge vehicles, sigh =/
- toomuchtodo 3y agoWe’re incentivizing business capital investments. Certainly, it’s not always efficient (Hummers that used this tax treatment), but that is the intent. It would be more optimal if trucks didn’t keep getting bigger, but trucks are still needed for work purposes.
- solardev 3y agoThen why not just incentivize work vehicles, be they large trucks or electric sedans?
- toomuchtodo 3y agoBecause that is not the criteria codified in statute.
- 3y ago
- electrondood 3y agoBingo.
- jquery 3y agoTechnically you also have to use it more than 50% of the time for business.