section 179 tax question | FerrariChat
Buy

section 179 tax question

Discussion in 'FF/Lusso' started by sunghyun7, Jun 10, 2022.

This site may earn a commission from merchant affiliate links, including eBay, Amazon, Skimlinks, and others.

  1. sunghyun7

    sunghyun7 Formula Junior

    Oct 7, 2019
    256
    #1 sunghyun7, Jun 10, 2022
    I have a question for business owners with some knowledge about the section 179 tax deduction law. The law specifically says 6000lbs GVWR or over. Does it have to be a truck or SUV to qualify? can it be sedan or a coupe? like Bentley cgt speed which has GVWR of over 6000lbs? I plan on using it as daily driver for my business only. Thanks all.
     
  2. sunghyun7

    sunghyun7 Formula Junior

    Oct 7, 2019
    256
    #2 sunghyun7, Jun 10, 2022
    oops, I posted to the wrong section... I'm not sure how to move it..
     
  3. marcmc8867

    marcmc8867 Formula 3

    Jul 27, 2004
    1,028
    NC
    Full Name:
    Marc M.
    #3 marcmc8867, Jun 10, 2022
    I'm pretty sure it has to be a truck.

    My Bentley dealer said most of the Bentayga's get run as a business expense and none of the Continentals do. I had a '21 CGT Convertible til I traded it Wed (for F8 Spider) this week and it was personal vehicle. I also have a '21 Bentayga.
     
    sunghyun7 likes this.
  4. LI2782

    LI2782 Formula Junior

    Jul 19, 2010
    917
    #4 LI2782, Jun 10, 2022
    I know people taking the deduction on Taycans so I’d say check with your accountant
     
  5. Nospinzone

    Nospinzone F1 Veteran

    Jul 1, 2013
    7,790
    Weston, MA
    Full Name:
    Paul
    #5 Nospinzone, Jun 10, 2022
    Yes do this ^

    No one here who gives you tax advice will go with you to your IRS audit to defend their advice! :D
     
    LI2782 likes this.

Share This Page