Toyota Highlander
$40,000-$55,000
Is a Highlander a Tax Write-Off?
Short answer: Partly: the Highlander is under 6,000 lbs GVWR, so business use is deductible but first-year depreciation is capped at roughly $20,000 under the luxury auto limits.
You can use either the standard mileage rate or actual expenses times your business-use percentage. Commuting is never deductible.
Records to keep: Keep a contemporaneous mileage log (date, miles, business purpose), business-use percentage, the purchase contract, and a photo of the door-jamb GVWR sticker.
Toyota Highlander
Typical range: $40,000-$55,000
General Business
Partly: the Highlander is under 6,000 lbs GVWR, so business use is deductible but first-year depreciation is capped at roughly $20,000 under the luxury auto limits.
Business justification
Partly: the Highlander is under 6,000 lbs GVWR, so business use is deductible but first-year depreciation is capped at roughly $20,000 under the luxury auto limits. You can use either the standard mileage rate or actual expenses times your business-use percentage. Commuting is never deductible.
Category
- Vehicles by Make & Model