View Section 179 Vehicles List Background. Several years ago the deduction was referred to as the hummer tax loophole or suv tax loophole because at the time it allowed businesses to. By deducting the full cost, you lower the amount you pay for equipment and/or software substantially.
One of the more popular uses of the section 179 deduction has been for vehicles. Property received as a gift or the section 179 limitation must be reduced for vehicles that are not used 100% for business. O $500,000 from depreciable assets in the year that they have been bought.
All types of vehicles can be depreciated.
Section 179 is part of depreciation section. O $500,000 from depreciable assets in the year that they have been bought. This includes office furniture and fixtures, software, machinery, heavy equipment and heavy. How section 179 deductions work.