Albuquerque Journal (Albuquerque, NM)

No special tax rule provided for SUVs.(Business Outlook)

Byline: Your Taxes James Hamill For the Journal

Q: Before the new tax act was passed, there were several stories in the paper suggesting that someone could buy a new SUV and immediately deduct the full cost of the vehicle.

Did Congress make the SUV deduction part of the new law?

A. The provision that you mention did make it into the new law. However, there really isn't a special rule for SUVs.

Instead, the new law allows a taxpayer to immediately expense as much as $100,000 of qualifying tangible personal property acquired after 2002. Before 2003, the expense limit was $25,000.

Automobiles, trucks, SUVs, and the like are personal property eligible for expensing (and depreciation for the portion not expensed) if used for business purposes. …

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