Hello, can I qualify for a Section 179 tax Deduction as someone that is required by my employer, the USAF, to drive people around more than 50% of it's use?
- I don't have a private business.
- On 30 MAY 2023, I purchased a new 2024 BMW X5 50e that has a Gross Vehicle Weight rating of 7,200lbs. (Exceeding the 6,000lbs requirement.)
- This vehicle also qualifies for that 2023 $7,500 Tax Credit for EV vehicles since it's a full plug-in hybrid with a large battery bank and can drive on battery power only.
- I work at the Pentagon and I use the vehicle primarily to drive diplomats, senior military leaders and foreign embassy staff around Washington D.C and to different bases across the states. So easily over 50%-65% of the vehicle's use is for that purpose, and I can get signed letters confirming that if needed.
- Because it's primarily for business, would I qualify for the Section 179 Tax Deduction? (Or is Section 179 ONLY for self-employed business owners who don't work for someone else?)
- If not, what other deduction would I qualify for since the majority of the miles on it are for work.
Thank you! I appreciate any good advice.
