
Contact Courtesy Volvo Cars of Scottsdale about the Volvo Tax benefits. In Scottsdale, proudly serving Phoenix, Tempe, Arizona business owners.
The newly enacted Tax Cuts and Job Act (ACT) has provided an opportunity to business owners in need of new and used vehicles. For Volvo, this applies specifically to the XC90. ACT provides that business owners may now be eligible to deduct up to 100% of the vehicle purchase price when the vehicle is purchased for business use and the vehicle meets the IRS guideline which state that SUVs with a gross vehicle weight in excess of 6000 pounds are treated differently than other luxury automobiles.
Gross Vehicle Weights for XC90 are as follows:
- 2016, 2017, 2018, 2019, 2020 XC90 T5 FWD 5-Passenger = 6005 lbs
- 2016, 2017, 2018, 2019, 2020 XC90 T5 AWD 5-Passenger = 6005 lbs
- 2018, 2019, 2020 XC90 T5 FWD 7-Passneger = 6060 lbs
- 2018, 2019, 2020 XC90 T5 AWD 7-Passenger = 6060 lbs
- 2016, 2017, 2018, 2019, 2020 XC90 T6 AWD 7-Passenger = 6060 lbs
- 2016, 2017, 2018, 2019, 2020 XC90 T8 AWD 7-Passenger = 6635 lbs
To qualify the XC90 must be purchased (NOT LEASED) and must be used at least 50% for business.
Additionally this deduction now applies to both new and used vehicles, provided the acquiring taxpayer had not previously used the vehicle.
This means we have the ability to present this opportunity to business owners on both your new and used car lots, so make sure all applicable personnel within your operation are aware and up to speed.
NOTE: As with any tax or legal issue, the consumer should always consult with their own tax and legal professionals to ensure they are fully eligible for this deduction.