March 21, 2011
Chevy Tahoe, Cadillac Escalade, Ford Expedition, and Mercedes-Benz GL are some of the vehicles that qualify for Section 179 tax deduction
1. Section 179 of the tax code allows vehicles over 6,000lbs that are used for "business" to qualify for an extra tax deduction. Chevy Tahoe, Cadillac Escalade, Ford Expedition, and Mercedes-Benz GL are some of the vehicles that qualify for this deduction. The limit of deduction however was recently reduced from $250,000 to "only" $25,000.
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I learned about this in school. These vehicles fall into the same category as tractors.
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