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  #13  
Old 09-04-2010, 10:55 AM
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Re: Does WK2 Qualify for Section 179 Tax Deduction?

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Originally Posted by boarderman23 View Post
What would be the requirement if this does qualify for the 25k deduction...that you use it primarily for business use?
Yes, 50% minimum. Not only do you get a $25K deduction for 2010, you also get the depreciation deduction (since it's the end of the year, you only get a portion of the annual $3000, so, maybe $750). But then you get the full $3000 deduction for the four consecutive years following.

My business use is at, approximately, 85% and should remain that way for the ownership of the vehicle. Issues arise if your business use falls below 50% during subsequent years.

Business mileage needs to be substantiated/logged.

Hope that helps.
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Old 09-04-2010, 12:48 PM
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Re: Does WK2 Qualify for Section 179 Tax Deduction?

Thanks, figured it would have to be at least 50%. Unfortunately, the drive to the office doesn't count as that's all I do.
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Old 09-07-2010, 08:02 PM
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Re: Does WK2 Qualify for Section 179 Tax Deduction?

Short answer yes it does qualify for the 179 since it is over 6000GVWR.

In my case she said it would be better to use normal depreciation since the tax brackets are changing.
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Old 09-07-2010, 08:21 PM
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Re: Does WK2 Qualify for Section 179 Tax Deduction?

does this deduction apply for any type of business use, or is it just taxis and other types of transporting passengers.....im wondering if it applies to me, i am a salesperson who uses veh for business, use is over 50%. however, i transport no passengers over public roads....

anybody know?
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Old 09-07-2010, 09:11 PM
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Re: Does WK2 Qualify for Section 179 Tax Deduction?

I believe it would work with your situation since it is not a commute. Your best bet is to talk to your CPA, spending a few grand can save you many more sometimes.
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