🚗 The Section 179 Deduction is a tax incentive for businesses to invest in equipment, machinery, and vehicles that are used for their business operations. The deduction can be taken in the year the item is placed into service, allowing businesses to deduct the full cost of qualifying equipment, up to a certain dollar limit, from their taxable income. This can significantly reduce their tax bill and help them reinvest in their business. The deduction is available for a wide range of items, including cars, trucks, and SUVs that weigh more than 6000 pounds and are used primarily for business purposes (at least 50% of the time). Remember to always consult a tax professional, this is not advice. Here's a partial list of SUVs and Trucks that might qualify for a tax deduction. Comment if you had a different one in and mind and I’ll check to see if it qualifies. Audi 07 BMWX5. X6 Buick Enclave Cadillac XT5. XT6. Escalade Chevrolet Silverado. Suburban. Tahoe. Traverse Chrysler Pacifica Dodge Durango, Grand Caravan Ford Expedition, Explorer, F-150 and larger GMC Acadia, Sierra, Yukon Honda Pilot 4WD, Odyssey Infiniti Qx80.0X56 Jeep Grand Cherokee Land Rover Range Rover, Discovery Lexus GX460. LX570 Lincoln MKT AWD, Navigator Mercedes-Benz G550, GLS, GLE, Metris, Sprinter Nissan Armada, NV 1500, NVP 3500, Titan Porsche Cavenne Tesla Model X Toyota 4Runner, Landcruiser, Sequoia, Tundra #finance #personalfinance #money #tax #mercedes #rangerover #business #marketing #millionaire #moneytok #learnontiktok