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Wayne
Jun 30, 2008 - 4:49PM
2008 Special Vehicle Depreciation

In order to get the special vehicle depreciation, does the vehicle have to meet any special criteria like over 6000 lbs? I believe there was special criteria for section 178(?) depreciation which applied to luxury cars.

Zip Code: 85641

a
Andrew Schwartz CPA
Jun 30, 2008 - 5:09PM
Re: 2008 Special Vehicle Depreciation

To qualify for the Bonus Depreciation of $8,000 this year, the vehicle does NOT need to have a Gross Loaded Vehicle Weight in excess of 6,0000 lbs. The only requirement is that you use the vehicle more than 50% for business.

You're referring to the old Hummer deduction that allowed owners of the large SUVs to claim a huge first year write-off.

Zip Code: 01801

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