to get the 179 deduction there has to be business income at least equal to the deduction. you don't specify the type of entity the new business will be. W-2 income is considered business income for the 179 deduction
from IRS Pub 946
The total cost you can deduct each year after you apply the dollar limit is limited to the taxable income from the active conduct of any trade or business during the year. Generally, you are considered to actively conduct a trade or business if you meaningfully participate in the management or operations of the trade or business.
In general, figure taxable income for this purpose by totaling the net income and losses from all trades and businesses you actively conducted during the year.
In general, figure taxable income for this purpose by totaling the net income and losses from all trades and businesses you actively conducted during the year. In general, figure taxable income for this purpose by totaling the net income and losses from all trades and businesses you actively conducted during the year. Net income or loss from a trade or business includes the following items.
• Section 1231 gains (or losses).
• Interest from working capital of your trade or business.
• Wages, salaries, tips, or other pay earned as an employee.
For information about section 1231 gains and losses, see chapter 3 of Pub. 544.
In addition, figure taxable income without regard to any of the following.
• The section 179 deduction.
• The self-employment tax deduction.
• Any net operating loss carryback or carryforward.
• Any unreimbursed employee business expense
any 179 taken that isn't used becomes a carryforward.
also note that you can take special depreciation instead of 179. there is no business income limitation
while you say the vehicle is over 6000lbs there is a 179 limit in 2023 of $28900 for heavy SUVs
while a truck or van over 6000lbs gets the full cost
Any personal usage will reduce the deductible amount. also, the vehicle must be placed into service before the end of 2023 so the business must have begun by that date. Reeneue isn't required but some activity must have occurred that indicates the business has started. This could be sending out business cards to potential clients or otherwise advertising the business. Just buying the vehicle doesn't qualify.
