Last year I advised you that 2011 was a great time to buy an SUV for your business, because of the extremely generous 100 percent bonus depreciation available for that year only. If you didn't take my advice and buy that SUV, you may want to do so by the end of 2012. Although the deductions you can get for buying a business SUV this year are not as generous as in 2011, they're still pretty great. And they may not come around again. As I said in my previous column on the subject, there is an annual cap on the amount of depreciation you can take on a passenger vehicle each year. The cap for a passenger vehicle purchased in 2012 is $11,160. However, this cap applies only to passenger vehicles -- those with a gross loaded weight of less than 6,000 pounds. If you buy an SUV that weighs more than 6,000 pounds, the cap won't apply. This can enable you to take an enormous first-year deduction in 2012 because you can take 50 percent bonus depreciation on top of a $25,000 Section 179 deductio...
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