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Ed Johnson
Ed Johnson, Tax Preparer
Category: Tax
Satisfied Customers: 10760
Experience:  GPHR Cert; U.S. Treasury Tax Advocacy Panel appointee
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If you lease a new vehicle that is 6000 lbs or more, will this

Customer Question

If you lease a new vehicle that is 6000 lbs or more, will this qualify for the $25,000 one time tax write off?
Submitted: 8 years ago.
Category: Tax
Expert:  Ed Johnson replied 8 years ago.



Many people mis understand this deduction. I keep hear of people asking about a one item 15,000 dollar tax write off, and this is simply the wrong perspective and application of the law.


The 25,000 dollar write off is really a section 179 expensing limit. Not everone will be abler to take advantage of the limit, and some will.


Prior to 2004, there was essentially no limit and a person could take as much as 100,000+ in the first year. However, for over 6,000 pound vehicles purchased AFTER October 22, 2004, the Section 179 expensing limit was reduced by Congress to $25,000.


This expensing limit is not available to you unless the vehicle is used 50% or more of the time for busniess use. Mileage logs must be made in sufficient detail to apportion business use, personal use, and commuting miles.


The weight is the GVW that appears on the manufacturers data plate.




Customer: replied 8 years ago.
Does a Leased vehicle qualify as long as it meets all the requirements?

Thank You,

Expert:  Ed Johnson replied 8 years ago.

Dear nunzioatgleemco.


Thanks for digging deeper.


Unfortunately the leased vehicles do not qualify for the this category of tax treatment. it only applies to vehicles that are purchased and owned by the business owner/s


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