Tax Guru – Ker$tetter Letter

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No Change In SUV Section 179 Limits

Posted by taxguru on July 9, 2007

Q:

Subject: section 179 for SUV

In 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

 

Business Plan Pro

 

 

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