Land Rover

Land Rover Richmond

11670 Midlothian Tpke
Directions Midlothian, VA 23113

  • Sales: (888) 353-1773
  • Service: (877) 388-9575
  • Parts: (877) 234-8131
Info

Business Tax Advantage



TAX ADVANTAGES
BECAUSE RANGE ROVER AND RANGE ROVER SPORT HAVE GROSS VEHICLE WEIGHT RATINGS GREATER THAN 6,000 POUNDS,** THEY QUALIFY FOR AN ACCELERATED TAX DEPRECIATION SCHEDULE. THE VEHICLES CAN BE DEPRECIATED UP TO 60 PERCENT IN THE FIRST YEAR, AND FULLY DEPRECIATED IN 6 YEARS. A SIGNIFICANT ADVANTAGE COMPARED TO SIMILARLY PRICED LUXURY CARS.

Contact Us

Land Rover Richmond

11670 Midlothian Tpke
Directions Midlothian, VA 23113

  • Sales: (888) 353-1773
  • Service: (877) 388-9575
  • Parts: (877) 234-8131

TAX DEPRECIATION COMPARISONS


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

RANGE ROVER TAX DEPRECIATION COMPARISON

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

Total allowable depreciation, years 1 through 4*
94%
$78,902 FOR RANGE ROVER1
25%
$21,185 FOR LUXURY CAR2


YEAR
RANGE ROVER
LUXURY 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
 

  

Good for you. And your bottom line.

When is a "company car" as rewarding to own as it is to drive? When it's a Land Rover. The new, luxuriously equipped and immensely capable Range
Rover, Range Rover Sport and Land Rover LR4 qualify for an accelerated tax depreciation schedule when used exclusively for business.* Giving you a lot
more drive, for a lot less.

Since all new Range Rover, Range Rover Sport and Land Rover LR4 models have a Gross Vehicle Weight Rating (GVWR)** of over 6,000 pounds, they
qualify for an accelerated tax depreciation schedule. When used exclusively for business, they can be depreciated at a faster rate than luxury cars. Please consult your tax
advisor on how this can be applied to your individual business situation.

* Individual tax situations may vary. The above information was accurate at the time of publishing. Federal rules and tax guidelines are subject to change. Consult your tax
advisor for complete details on rules applicable to your transaction. The information on this page does not constitute tax advice.
** Gross Vehicle Weight Rating (GVWR) is the manufacturer's rating of the vehicle's maximum weight when fully loaded with people and cargo.



Tax Depreciation Comparison:


RANGE ROVER SPORT TAX DEPRECIATION COMPARISON

$64,000 RANGE ROVER SPORT VS $64,000 LUXURY CAR
Total allowable depreciation, years 1 through 4*
95%
$60,630 FOR RANGE ROVER SPORT3
33%
$21,185 FOR LUXURY CAR2

YEAR
RANGE ROVER SPORT
LUXURY 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

    
 

Contact Us

Land Rover Richmond

11670 Midlothian Tpke
Directions Midlothian, VA 23113

  • Sales: (888) 353-1773
  • Service: (877) 388-9575
  • Parts: (877) 234-8131
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.

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