10 Awesome Vehicles That Qualify as a Business Write Off in 2008
Opinion Page / Op-Ed Article 2008 Archives
As you may know, the Section 179 Deduction can be used for businesses to write off vehicles in 2008. Also and affectionately called the “Hummer Loophole”, this law also allows you businesses to purchase SUVs and write them off. However, there were limits put in place to try to avoid abuse of the deduction. (Darn!)
So now if you purchase a large SUV with a Gross Vehicle Weight (GVW) of 6,000 pounds or more, you can only claim a limit of $25,000 instead of the normal limit of $250,000. But, something’s better than nothing at all. Of course, SUVs aren’t the only thing that’s covered. Vehicles with nine or more seats behind the driver’s seat qualify and pickup trucks with cargo beds that are six feet in length or longer qualify.
The main purpose of the deduction is for vehicles specifically used for businesses, like you passenger vans can be deducted. Now, if you’re going to get a van, then the best on the market is the GMC Savana. However, the title of this article is “10 Awesome Vehicles…” so you won’t see any vans on the list. Vans are practical, yes, but they’re not awesome.
1. Chevy Tahoe
At the top of the list is Motor Week’s “Best Large Utility Vehicle” for 2008, the Chevy Tahoe. The performance is awesome, but its greatest features have to do with safety as it’s scored high on crash tests. This will make you feel great when driving around your family – er – “business passengers”.
2. Cadillac Escalade
Like the Chevy Tahoe, the Cadillac Escalade scores very high on crash tests. It also looks fantastic inside and out, but of course that’s what we expect from Cadillac. With a sticker price that’s more than double the $25,000 deduction limit, the Escalade is pricey, but well worth it.
3. Chevy Suburban
This old favorite has been around for what seems like the beginning of time. Like the older versions of the Chevy Suburban, the 2008 models are great too. With an upgraded suspension and the StabiliTrac, the Suburban ranks great in safety. Like all Chevy Suburbans, the exterior looks rugged, solid and sharp.
4. Ford Expedition
Like the other vehicles listed so far, the Ford Expedition’s best attributes lie within its safety features. With the AdvanceTrac with Roll Stability Control, you can’t go wrong. You will be able to write off almost the full amount of the Ford Expedition, but you’ll need to hold onto your savings because your gas tank will eat it all up. The estimated EPA for the Expedition is only 12 mpg in the city and 18 mpg on the highway.
5. GMC Yukon
With an awesome 320-horsepower, 5.3-liter V8 engine, the performance of the GMC Yukon is great, but more importantly, you guessed it – safety again. GMC makes an awesome SUV and it just had to be on the top ten list.
6. Toyota Land Cruiser
First of all, this vehicle is gorgeous. It has many amenities as it’s classified as a luxury SUV. The price is classified as “luxury” too, as you’ll find out. However, the quality you get in the Toyota Land Cruiser is worth the extra money. Did you know that the Land Cruiser hasn’t had any recalls on any of its year models since 1993? Now, that’s impressive!
7. Chevy Silverado
So, finally on a list of awesome vehicles, we get to a pickup truck. The list wouldn’t be complete without at least one. The best attribute about the Chevy Silverado is that it’s fun! The performance on this pickup is awesome. You will almost be able to write the entire amount off with the Section 179 Deduction, so go for it.
8. Mercedes-Benz GL-Class SUV
Of course, you know if it’s Mercedes-Benz, then it’s got to be classy. The GL-Class SUV is no different in that respect from all Mercedes-Benz vehicles. The other thing it has in common with other Mercedes-Benz vehicles is awesome performance and great convenience features. The gas mileage isn’t bas at 24 mpg on the highway, but the sticker price is hefty.
9. Ford F-series Super Duty
While the F-150 doesn’t qualify for the Section 179 Deduction, the Super Duty trucks do. Just remember that the cargo bed must be at least six feet long. This gives you a great excuse to go all the way and get the Super Duty. Ford has always had a great reputation for its trucks and the Super Duty is a great example as to why.
10. Hummer H2
Of course we couldn’t have a top ten list for the best “Hummer Loophole” vehicles without a Hummer. As everyone knows, a Hummer looks great on the road, but this vehicle isn’t all about status. We can’t even hide that this might be for a business, so why even try? The Hummer H2 is amazing off-road. Hey, it’s a Hummer. You can’t hide it, so flaunt it.