I read that leasing a vehicle with a GVWR over 6000 pounds allows for a section 179 tax deduction the first year at 50% of the cost of the vehicle.
Does this currently apply with the 2018 tax laws ?
Is it worth getting a vehicle over 6,000 lbs or not for 2018 to get a depreciation tax deduction for a business ?
Must the vehicle be registered as a commercial or corporate business name to comply ?
I’d ask an accountant or a tax attorney before a bunch of internet strangers of which you don’t know a background of
Buying not leasing …
Vehicles over 6k lbs benefit from appreciated depreciation ie 50% cost in 1st year.
Leasing for business is always 100% deductible
A vehicle weighing over 6000 pounds would not have a gvwr of over 6000 pounds.
I believe if it’s over 6000# rating you can use bonus depreciation to write off the full cost of the vehicle in year 1