Why do so many wealthy people drive Range Rovers (and other heavy SUVs)?
It’s not just about style.
It’s about the tax code.
Under Section 179, if you own a business and drive a vehicle over 6,000 lbs (like a Range Rover, G-Wagon, Escalade, etc.), you may be able to write off part of the cost on your taxes.
✅ The catch?
– You must use it at least 50% for business.
– You can only deduct the business-use percentage.
– Fall below that 50% anytime in its 5-year useful life, and the IRS can hit you with a big tax bill.
Too many people buy these vehicles for personal use, thinking it’s a free write-off — when in reality, it can backfire.
Excellent analysis by @taxleverage
Moral of the story: Yes, there are big tax perks for business vehicles… but you need to do it right.
Always get advice from a qualified tax professional before trying this strategy.
#writeoff
Would you like to learn more about protecting your assets and minimizing taxes? Schedule a free consultation here: https://aba.link/dvl
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Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at https://aba.link/tobyaba
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