IRS 179 Write-Off Question on sedans

[Flem Whittman]

I understand the 6k lbs.+ write off. And writing it off in 1 year vs 5… But is there a scenario to write off non SUV/Trucks under 6k lbs.? For example a sedan… Doesn’t have to be a brand new S Class… Or SUV’s under 6k lbs.? 

I’m trying to figure out a house flipping scout vehicle that’s not my big truck… 

Thanks in advance! 

[Jack Faysash]

Flem,

I think the best way to go about your scout vehicle would be writing off mileage rather than depreciating the vehicle. You can deduct 62.5 cents per mile beginning July 1st (see link below).

https://www.irs.gov/newsroom/i...

Would be smart to buy something inexpensive, reliable, and good on gas if you're just going to be using it for scouting miles.  Miles you deduct must be for business purposes. Feel free to message me if you have any questions.

-Jack Faysash