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Business & farm
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.
‎October 11, 2019
1:32 PM
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