No Change In SUV Section 179 Limits
Posted by taxguru on July 9, 2007
Q:
Subject: section 179 for SUVIn 2007 do you know if you can still expense $25000 of a vehicle with GVW over 6000 pounds under the Small Business and Work Opportunity Tax Act of 2007? Thanks
A:
That rule has not been changed.
The only change in the new tax law is to raise the overall maximum Section 179 from $112,000 to $125,000 for 2007. The special $25,000 limit on SUVs was not modified.
Kerry Kerstetter
Follow-Up:
Thank you
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