Hinesville, GA asked in Tax Law for Georgia

Q: Am I eligible to use tax write off section 179, purchasing 2005 hummer for airbnb business registered sole proprieter

weighs over 6000 lbs

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1 Lawyer Answer
James L. Arrasmith
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  • Tax Law Lawyer
  • Sacramento, CA

A: Section 179 of the Internal Revenue Code allows businesses to deduct the full purchase price of qualifying equipment or vehicles used for business purposes. To be eligible, the vehicle, such as your 2005 Hummer, must be used for business purposes more than 50% of the time.

Given that your vehicle weighs over 6,000 pounds, it may qualify for a larger deduction.

However, the specific use of the vehicle for your Airbnb business and the percentage of business use will be key factors. As a sole proprietor, you should maintain detailed records of the vehicle's business use and consult the latest tax regulations to ensure compliance.

Proper documentation and adherence to the tax code are crucial. It would be beneficial to discuss this with a tax professional who can provide guidance based on the most current laws.

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