SUV Tax Break - Is the first year depreciation still $25,000?

I am planning to buy an SUV in October of 2006 that is over 6,000 GVW (be used exclusively for business) and want to make sure that the first year depreciation limit is still $25,000. Is that still the case? I've heard rumors that the amount might be decreased at some point. Thanks!

Answer:
This law is still in effect.as of now. The SUV must be exempt from the luxury car caps (built on a truck chasis ans has a GVWR in excess of 6000#) under Sec 179.
I would check with a CPA first .. but I think that is still the case .. Also note that the depreciation can only be claimed for vehicle above the 5000 pound limit .. (check that number please.. i am not sure) .. But the point is that the heavier SUVs qualify ..

HTH
Definitely need to check with you tax preparer as this law as changed. There are new rules regarding whether it is a luxury SUV or not. It's not only gross weight, it's also whether it is built on a truck chassis or a car chassis and other criteria. Your tax preparer can guide you to the best vehicle to purchase from a tax point of view.

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