If your business involves transportation needs, the Section 179 tax deduction is a potential way to have your vehicle help you on your taxes.  This tax deduction allows small business owners to deduct the full cost of the equipment that was financed for that tax year. 

In effect, that means that if you bought a vehicle for your company over the past fiscal year you may be eligible to deduct the whole purchase price from your gross income. This kind of deduction offers copious amounts of tax relief for small business owners who might be feeling the pinch extra hard this year.

TAX DEPRECIATION COMPARISONS

The comparisons below illustrate the tax depreciation advantages for business owners who purchase a new Range Rover, Range Rover Sport, or Range Rover Defender before December 31, 2016.† Please consult your tax advisor on how this information can be applied to your individual business situation.


$84,000 2021 RANGE ROVER VS $84,000 LUXURY CAR

Total allowable depreciation for the 1st year of ownership†


YearRange RoverLuxury Car
1$60,400$11,160
2$9,440$5,100
3$5,664$3,050
4$3,398$1,875
Total Depreciation Years 1 through 4$78,902$21,185
RANGE ROVER INVENTORY
Range Rover Sport

$64,000 2021 RANGE ROVER SPORT VS $64,000 LUXURY CAR

Total allowable depreciation for the 1st year of ownership†


YearRange Rover SportLuxury Car
1$48,400$11,160
2$6,240$5,100
3$3,744$3,050
4$2,246$1,875
Total Depreciation Years 1 through 4$60,630$21,185
RANGE ROVER SPORT INVENTORY


 

RANGE ROVER

VIEW INVENTORY

DISCOVERY SPORT

VIEW INVENTORY

RANGE ROVER SPORT

VIEW INVENTORY

Individual tax situations may vary. The information presented was accurate at time of publishing. Federal rules and tax guidelines are subject to change. Consult your tax advisor for complete details on rules applicable to your business.
* Comparisons based on Section 179 and 168(k) of the Internal Revenue Code, which allows for additional first year depreciation for eligible vehicles and reflects figures for owners who purchase vehicles for 50 percent or greater business use and place vehicles in service by December 31, 2016.
1. Range Rover depreciation can continue at $3,398 in Year Five, and $1,699 in Year Six, at which point it is fully depreciated.
2. Luxury car depreciation can continue at $1,875 per year for each succeeding year until the vehicle is fully depreciated or sold.
3. Range Rover Sport depreciation can continue at $2,246 in Year Five, and $1,123 in Year Six, at which point it is fully
depreciated.

© 2016 Jaguar Land Rover North America, LLC