What are the qualifications for a Section 179 vehicle deduction?

Answer by  Turbo20v (37)

A section 179 vehicle deduction requires that the vehicle must be purchased by a business for that business' use, and have a gross vehicle weight of over 6,000 Pounds.

Answer by  Mikhaili (27)

Business equipment, computers, software, vehicles (gross weight over 6000 lbs), furniture and any tangible property used for business purposes is eligible. Private use equipment that is used for business are deductible in the personal/business ratio.

Answer by  spencerb (48)

If your business spends less than $800,000 on equipment you qualify. Keep in mind though that you have to put the equipment in use between January 1, 2009 and December 31, 2009. The deduction begins to lower for anything spent over $800,000 and does so by a dollar for dollar amount.

Answer by  BojanAndonovski (48)

One of the more popular uses for the Section 179 Deduction is for vehicles. In fact, Section 179 is sometimes referred to as the 'Hummer Tax Loophole', because it allowed businesses to buy large SUV's and write them off.

Answer by  Eddie87 (129)

Deductions for section 179 are different year by year, they include a monetary value in which you can deduct from your income tax. They have several qualifications