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Vehicles that qualify for so-called SUV tax deduction for business

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    fintailfintail Member Posts: 57,169
    Maybe because the H2 is more in your face and likely sells more. The LandCruiser seems so 90s anymore.

    Of course, it could just be a media conspiracy!
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    andre1969andre1969 Member Posts: 25,687
    that the H2 has been treated like a pariah is because it's based on the 3/4 ton Suburban chassis. Its GVWR is over 8500 lb, so the gov't doesn't even bother to test its fuel economy, and it doesn't get factored into GM's CAFE ratings.

    The Landcruiser still gets tested, and it does get factored into Toyota's CAFE ratings, so if they sell too many of them, then they either have to sell enough fuel-efficient trucks to offset that, or pay a fine.

    FWIW, I think the H2's economy has been estimated at 11/14. I'm ashamed to admit it, but that's about all my aging Silverado gets. :blush:
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    gagricegagrice Member Posts: 31,450
    the H2 is more in your face

    I think that is the only reason they sell as many as they do. For those that feel the need to stick out. They are not as practical as a Suburban in any type usage. Maybe they are better off road.
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    gagricegagrice Member Posts: 31,450
    That is why I did not think the Land Cruiser was in that mix. I was under the impression that 6000 lbs was the cut-off for CAFE & EPA testing. That is confusing as to which vehicles are exempt and which are not.
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    highenderhighender Member Posts: 1,358
    I was wondering about that. No one ever referred to it as the Land Cruiser exemption. Only the Hummer tax break. Yet they are both in the same gas guzzling class. I think when that tax loophole came out in 2004 the Land Cruiser was rated lower in FE and worse emissions than the Hummer 2. I guess it is more politically correct to slam domestics than it is foreign auto makers.

    I agree. The media and so called politically correct public would slam any domestic car...but kowtow to any Japanese car.....

    maybe having a civic in their lineup makes them elegible for the camouflage exemption ? ;)
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    rotarota Member Posts: 2
    Not all styles of 4Runners qualify. I have a V8 AWD which is barely over 6000lb and I used it for the deduction.
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    lakeside1lakeside1 Member Posts: 1
    I am a physician and am interested in purchasing an SUV that fits this tax deduction category.
    Is it very complicated to be able to get the deduction or straightforward? Also, could you tell me what exactly are the requirements to qualify for the deduction.
    Thanks.
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    doseidosei Member Posts: 11
    Very interesting debate, but can someone please explain the current policy on tax deductions for business vehicles? I will be leasing or purchasing a new vehicle for business use in less than 2 months, and am having trouble finding the policy for this. Can someone point me to the right place for this info? Thank you!
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    highenderhighender Member Posts: 1,358
    The IRS has basically closed the immediate deduction of the full amount of the vehicle..up to $100,000 , in one year.

    If it is used for business, section 179 may still apply....

    But your accountant may elect to do standard business deductions and then depreciate it in 5 years....

    depends on how you do it.

    Or you can lease it, and writeoff the lease payments.

    don't forget to keep a detailed notebook of all the mileage and work events that you go to...
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    doseidosei Member Posts: 11
    Highender thanks for replying
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    snapcracklepopsnapcracklepop Member Posts: 111
    Another SUV that qualifies is the Range Rover, it's over the 6000 pound requirement.....the LandRover.com site has a whole section devoted to the small business use tax break

    If I had a small business, I'd love to buy a Range Rover!
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