cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 6

As per Article 179 can I deduct 100% cost of used Tesla X 6000 lbs for 2019 for my business?(More than 50% business use. 2019 limits are up to 1 mil)

 
3 Replies
Level 10

As per Article 179 can I deduct 100% cost of used Tesla X 6000 lbs for 2019 for my business?(More than 50% business use. 2019 limits are up to 1 mil)

max for car is $18k for 100% business use

Level 6

As per Article 179 can I deduct 100% cost of used Tesla X 6000 lbs for 2019 for my business?(More than 50% business use. 2019 limits are up to 1 mil)

You sure? I read that on Tesla forum that it is possible. Article 179 aka Hummer tax loophole basically says you can deduct 100% of the cost of your Model X since it is more than 6k lbs. 

Level 10

As per Article 179 can I deduct 100% cost of used Tesla X 6000 lbs for 2019 for my business?(More than 50% business use. 2019 limits are up to 1 mil)

For new and pre-owned vehicles put into use in 2018 (assuming the vehicle was used 100% for business):

  • The maximum first-year depreciation write-off is $10,000, plus up to an additional $8,000 in bonus depreciation.
  • For SUVs with loaded vehicle weights over 6,000 pounds, but no more than 14,000 pounds, 100% of the cost can be expensed using bonus depreciation.

 

Sec 179 

 

IRS TCJA