Will even leasing a Range Rover give me a headache?

[JordanWearinThe45]

Yea it's called tax code 179 check out these links, they have a list of other make and models of SUV's that qualify.

Business Tax Advantage | Land Rover Hunt Valley

Tax Rules For Buying A SUV Or Truck To Deduct As A Business Expense

2019 Tax Code 179 Vehicle Guide For Self-Employed & Business Owners | CarProUSA

But the write off is for the first year purchased. And it’s capped at $25000, so if you lease payment is $800 a month for 36 months that’s $28800 over the life of the lease, so the $25k gets wiped off in the first year off rip. But you still gonna be making the payments and not getting that any more tax breaks later On right? Just making sure I overstand.

 

[Jblaze204]

But the write off is for the first year purchased. And it’s capped at $25000, so if you lease payment is $800 a month for 36 months that’s $28800 over the life of the lease, so the $25k gets wiped off in the first year off rip. But you still gonna be making the payments and not getting that any more tax breaks later On right? Just making sure I overstand.

Yea it says 25k plus another 50% off. It's best to consult a business tax expert before leasing because even reading it a couple of times it's still confusing.

 

[jilla82]

buy an Indian car brehs

 

[King Sun]

You're better off leasing a gx 460 homie

 

[levitate]

Cop a Volvo XC90 instead.

Thank me later...

 

[JordanWearinThe45]

Cop a Volvo XC90 instead.

Thank me later...

Volvo’s be giving trouble bro

@dora_da_destroyer you cop anything?

 

[feelosofer]

TBH, I would probably go Volvo or Audi before a Range, but if that is where your heart is set, you should be fine leasing it. Put it under your business and you can write off a portion of the payments.

 

[dora_da_destroyer]

Volvo’s be giving trouble bro

@dora_da_destroyer you cop anything?

Coronavirus and a possible move to NY put this shyt on hold lol

 

[sayyestothis]

U own a biz? Ranges are amazing for leases based on their weight....