Land Rover for Business
TAX ADVANTAGES
Because Range Rover, Range Rover Sport, and the Land Rover Discovery 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
Land Rover Colorado Springs
565 Automotive Drive, Colorado Springs, CO 80905
719-302-1000
TAX DEPRECIATION COMPARISONS
The comparisons below illustrate the tax depreciation advantages for business owners who purchase a new Range Rover, Range Rover Sport, and Land Rover Discovery before December 31, 2017.†Please consult your tax advisor on how this information can be applied to your individual business situation.
RANGE ROVER TAX DEPRECIATION COMPARISON
$86,000 RANGE ROVER VS $86,000 LUXURY CAR
Total allowable depreciation, years 1 through 4*
$80,730 FOR RANGE ROVER1
$21,185 FOR LUXURY CAR2
YEAR |
RANGE ROVER |
LUXURY CAR |
|---|---|---|
| 1 | $61,600 | $11,160 |
| 2 | $9,760 | $5,100 |
| 3 | $5,856 | $3,050 |
| 4 | $3,514 | $1,875 |
| Total Depreciation Years 1 through 4 | $80,730 | $21,185 |
$66,000 RANGE ROVER SPORT VS $66,000 LUXURY CAR
Total allowable depreciation, years 1 through 4*
$60,630 FOR RANGE ROVER SPORT3
$21,185 FOR LUXURY CAR2
YEAR |
RANGE ROVER SPORT |
LUXURY CAR |
|---|---|---|
| 1 | $49,600 | $11,160 |
| 2 | $6,560 | $5,100 |
| 3 | $3,936 | $3,050 |
| 4 | $2,362 | $1,875 |
| Total Depreciation Years 1 through 4 | $62,458 | $21,185 |
$50,000 LAND ROVER DISCOVERY HSE Td6 VS $50,000 LUXURY CAR
Total allowable depreciation, years 1 through 4*
$47,840 FOR LAND ROVER DISCOVERY4
$21,185 FOR LUXURY CAR2
YEAR |
LAND ROVER DISCOVERY |
LUXURY CAR |
|---|---|---|
| 1 | $40,000 | $11,160 |
| 2 | $4,000 | $5,100 |
| 3 | $2,400 | $3,050 |
| 4 | $1,440 | $1,875 |
| Total Depreciation Years 1 through 4 | $47,840 | $21,185 |
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* 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, 2017.
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.
fully depreciated.
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