Range Rover, Defender, and Discovery Tax Advantage
ENJOY THE
REWARDS OF AN IMPRESSIVE TAX
ADVANTAGE FOR BUSINESSES
Taking the company car is just more rewarding when it's behind the wheel of a Range Rover, Range Rover Sport, Defender, or Discovery vehicle. Combining form and function, comfort and capability, these vehicles also qualify for an accelerated tax depreciation schedule when used exclusively for business to help increase your company's bottom line.
Since the Range Rover, Range Rover Sport, Defender and Discovery have Gross Vehicle Weight Ratings (GVWR) greater than 6,000** pounds, they can be depreciated according to federal and state law when used for business 100% of the time, giving you the freedom to spend on the things that matter most.Â
Make the most of this significant business benefit before the year is out by visiting our dealership.
Section 179 Tax Savings
Section 179 of the Internal Revenue Code allows businesses to take an
immediate deduction for business expenses related to depreciable assets
including "heavy" vehicles. This allows you to deduct up to $30,500* of a qualifying vehicle from the business's gross income during that tax year rather than capitalizing an asset and
depreciating it over time in future tax years. The vehicle must be used exclusively
for business purposes, and must be purchased and placed into service
within the tax year. When claiming the Section 179 deduction, it is
advisable to consult with a tax professional or vehicle valuation expert
who can accurately assess the vehicle's value and ensure compliance
with current IRS guidelines.
Qualifying Vehicles
*$30,500 tax deduction for qualifying vehicles based on current Section 179 of U.S. tax code and maximum deduction permitted for such vehicles under Section 179. Vehicle must be purchased for business use. Please consult your tax professional for more information on applicability of deduction and whether you qualify for the maximum amount available. $5,502 tax savings based on 21% federal corporate tax rate and eligibility to claim full $30,500 IRS Section 179 tax deduction for qualified vehicles. Your tax rate and eligibility may vary. Please consult a tax professional for more information on your federal tax rate and potential tax savings available to you for qualifying purchases. This information does not constitute, nor is it intended to be, legal, tax, financial planning or investment advice and should not be relied upon as such.
For more details, visit www.irs.gov
Individual tax
situations may vary. Information accurate at time of publication. Federal rules
and tax guidelines are subject to change. Consult your tax adviser for complete
details on rules applicable to your business.