S-179 / $25K over 6,000 lbs.?
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Increased section 179 limits. The maximum section 179 deduction you can elect for qualified section 179 property placed in service in 2007 has increased to $125,000 ($160,000 for qualified enterprise zone and qualified renewal community property). This limit is reduced by the amount by which the cost of qualified property placed in service during the tax year exceeds $500,000. -
Pretty sure it is still 25k on SUV's. Here is a link to a table:
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S-179 / $25K over 6,000 lbs.?
Does anyone happen to know the current ceiling on 179 depreciation for autos weighing over 6,000 lbs.?
I thought it was $25K, but somebody said that was supposed to be dropped or eliminated at one point, and then later I heard they were raising it to $100K.
Also, anybody know where to find a table of the autos qualifying as "6K" vehicles?Tags: None
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