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Whether driving to a meeting in challenging road conditions or navigating these unprecedented times, the world is much more appealing from the driver’s seat of a new Land Rover vehicle.
Take advantage of an accelerated tax depreciation schedule to help increase your company’s bottom line.*
Since the Range Rover, Range Rover Sport, Land Rover Defender 90, Land Rover Defender 110 and Land Rover Discovery have Gross Vehicle Weight Ratings (GVWR) greater than 6,000** pounds, they can be fully depreciated in the first year of ownership when used for business 100% of the time, giving you the freedom to spend on the things that matter most.
Vehicles classified as “heavy” can receive a tax deduction under Section 179 up to $28,900. In 2023, the bonus depreciation rate is 80%.
The vehicle must also be used for business purposes, and it 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 IRS guidelines.