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Probably referring to a section 179 deduction which gives you a $25k deduction on your taxable income for vehicles that weigh more than 6000lbs.
by shampine 3y ago
Probably 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.
- travisb 3y agoThe reason was to avoid tax advantaging sports cars or luxury sedans for executives. At the time SUVs were utilitarian and unfashionable so dividing by weight seemed an easy way to distinguish between "real" work vehicles and "fake" work vehicles. Of course it backfired so now 6500 pound SUVs (and even luxury sedans!) are easily acquired.