I'm Nicole Lapin, the only financial expert you don't need a dictionary to understand.

It's time for some money rehab. So of course I am not about that gatekeeping life. If I come across any tax

tip or savings hack I love to share it with you, A-S-A-P.

You might know I have a Range Rover, and I love her.

So when my car dealer emailed me about the Range Rover being a 6,000 pound write-off last month,

I was so excited to tell you about it. This tax

hack is often known as the G-Wagon write-off or loophole. But I haven't taken

advantage of this tax hack myself and whenever I come across the tip that I haven't personally used I always

do extra research and fact checking before bringing it to you because of course they do.

And sometimes I reach the conclusion that what's presented as truth is actually financial fiction.

And that is pretty much what I found with the G-Wagon right off.

So let's talk about how much you can really save on heavy SUVs using bonus deductions and part of the tax code

called Section 179. Of course they would have such a boring-ass name for it that's

why no one has ever heard of it. But Section 179 has all the rules about what you

can and can't write off as depreciating business assets. Even though you might have seen

some Tik-Dok videos about it, this tip is paying out less and less every single year.

So if you're thinking about making any big business purchases,

this is hopefully your wake-up call to try and do it before December 31st.

Back to that email from the car dealer, which read, quote,

four SUVs that weigh over 6,000 pounds,

but no heavier than 14,000 pounds,

the full 100% of the cost can be depreciated.

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