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Section 179 deductions are the tax magic that lets you fully deduct capital assets in the year your purchase them. By combining Section 179 and the depreciation rules regarding purchasing automobiles for business, you can save a good amount of money.

Vehicles have particular depreciation limits based on their size. Passenger cars have a total depreciation limit of $3,160, while trucks and vans have a limit of $3,460. Sport utility vehicles (SUVs) and trucks over 6,000 pounds, however, don’t have this depreciation limit- and you can use the entire $25,000 Section 179 deduction for these vehicles. This gives you the most significant tax deduction when you buy a car.

This website has a great list of vehicles that qualify for Section 179, including the Cadillac Escalade and the Mercedes-Benz GL-Class SUV: Awesome Vehicles that Qualify as a Write-Off.

Tweet it! Buy an SUV for your business for the most significant vehicle tax deduction. @BetteHochberger