In the old days ( 3 years ago), a business could deduct 100% of the purchase price of an SUV with a gross vehicle weight rating of more than 6K pounds that was used 100% in the business in the year of purchase. Due to law changes, this is no longer the case. In 2025, the deduction for that SUV may between 40% and 70% of the purchase price depending on several factors. If you purchase a truck with an interior bed length of at least 6 feet, then you still might get a 100% deduction. You also might get a 100% deduction if the vehicle is low-cost or has room for 9 passengers in the back or has no seating for passengers behind the driver. Ask us for details before you make the decision on which vehicle to buy for your business in 2025.
Accounting and Consulting