Quote:
Originally Posted by t1blackout
"New Car" incentive... it's not a new program. It only works for new cars and I'm pretty sure it expires in 2018 for the 50% and then goes down over the future years... at least that's how I remembered it.
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I am trying to get some concrete specifics down regarding the Section 179 discount, and bonus depreciation.
I cannot find anywhere where it specifically states that it can only be applied to new vehicles. What I do see is it stating "new to you" so technically if I'm reading correctly, used cars apply as well.
Also, with regard to the 6000lb GVWR ruling, it states that "Limits for SUVs or Crossover Veicles with GVWR above 6000lbs - Certain vehicles with gross vehicle weight above 6,000 lbs qualify for expensing up to $25,000 if the vehicle is financed and placed in service prior to December 31 and meets other conditions."
So my question is, how are you doing 100% of the vehicle price, or are you instead at the specified $25,000?