§179 And SUV's
Home Up Business Telephone Excise Tax Credit Individual Telephone Excise Tax Credit §179 Deduction Health Savings Accounts 2005 Retirement Plan Limits §199 Manufacturer Kiddie Tax Alternative Minimum Tax Capital Gains and Qualified Divi ROTH Designated §401 §179 And SUV's 2005 Standard Deduction Optional Sales Tax Deduction Vehicle Donations

 

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Business Telephone Excise Tax Credit
Individual Telephone Excise Tax Credit
§179 Deduction
Health Savings Accounts
2005 Retirement Plan Limits
§199 Manufacturer
Kiddie Tax
Alternative Minimum Tax
Capital Gains and Qualified Divi
ROTH Designated §401
§179 And SUV's
2005 Standard Deduction
Optional Sales Tax Deduction
Vehicle Donations

 

 

§179 and SUV's

The American Jobs Creation Act of 2004 changed the §179 deduction for Sport Utility Vehicles after October 21, 2004.  The §179 deduction is limited to $25,000 times the business use percentage for the vehicle if placed in service after October 21, 2004.

A Sport Utility Vehicle (SUV) is any vehicle with a gross vehicle weight of 6,000lbs to 14,000llbs except for:

● Vehicles with seating for more than 9 passengers rearward of the driver (15 passenger vans), or

● Vehicles with a storage area at least 6 feet long that is not readily accessible from the passenger compartment, or

● A vehicle with a cargo compartment rearward of the driver suitably enclosed and no part of the vehicle more than 30 inches forward of the leading edge of the windshield.