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Question Y'all-

As a small business owner I was able to take advantage of the Range Rover tax credit allowed in the US. The first year you are allowed to depreciate the vehicle up to 60% due to the weight of the vehicle. This depends on your business and vehicle usage. More information here-
http://www.landroverusa.com/corporate-sales/tax-advantage.html

Q- If you sell your Range Rover and get another one, can you write that big 1st year depreciation off again on the new car? Any limit to doing this every couple years and getting a new car? `)


Appreciate any insight!

J Bay
 

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Great question, Have you gotten any answers on this? OR did you end up doing that? looking for answers to this question as well.
 

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I am pretty sure it is dependant on the vehicle.

Last year I bought 3 vehicles. My RRS, a Tahoe and a small SUV less than 5k GVW.

I took the big depreciation, actually think it was more than 60%, on my RRS and also another big depreciation on the Tahoe.

Bought an X5 and am taking delivery of another RRS later this year. Same think, writing both of those down also.

We actually did a depreciation correction on a couple other vehicles from earlier tax years.


It could also depend on the type of depreciation that you are doing when it comes to what percentage you are taking. I do not think the # of vehicles matters though.
 
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