Write Off 100% of Your New 2011 SUV

Is your company contemplating buying a new sport utility vehicle? Great news, do it! You will be able to write off 100% of the cost through bonus depreciation on the new SUV. The below are some guidelines that must be followed:

  1. The vehicle must be purchased and put into service prior to December 31, 2011.
  2. The vehicle must weigh over 6,000 pounds. This covers most large SUVs for model years 2011 and 2012, such as the Cadillac Escalade, Jeep Grand Cherokee, and the BMW X5, to name a few.
  3. The vehicle must be new; used SUVs do not qualify for the additional bonus depreciation.
  4. The vehicle must not have been used personally more than 50% of 2011.

Also, trucks with beds over six feet that weigh over 6,000 pounds qualify as well. Trucks can be new or used, as long as they meet these criteria. This is the time to buy if your company is looking to expand or upgrade their current vehicles.