One exception for cars, another for trucks and another for vehicles more than 6000 GVWR
Well, I meant general exceptions for types of vehicles, not specifically "cars," as there isn't a separate limitation on cars. But if you want to break it down, there is a limitation on SUVs, and there are only complete exclusions on vehicles that don't have a seat behind the driver's seat, and vehicles that have an open storage area (bed size) of six feet or more in length. This does exclude most trucks, as any truck with a four person cab is likely going to have a bed longer than six feet. So that's 8 exceptions instead of 7; big difference there.
Section 179(f)(2) links to Section 168(e)(7) which defines qualified restaurant property and specifically excludes it from Bonus Depreciation.
Section 168's exceptions and limitations do not apply to Section 179; they are completely different statutes. Section 179 deals with capital expenses that can be deducted as a current expense. Section 168 deals with accelerated depreciation and the manner in which capital expenses can be partially deducted over many years.
You can either elect to use the Section 179 section for qualifying capital expenses (which, again, is the vast majority of expenses based upon the very few exceptions), or you can use the traditional method detailed in Section 168 to deduct only a percentage of the expenses each year for X number of years.
Section 168 was updated with subsection k, which added the Bonus Depreciation allowance. This can actually be used in conjunction with Section 179 to deduct additional capital expenses that were limited by or did not qualify for Section 179. Section 168 does not alter or add to Section 179's exceptions and limitations, so no, there is no Section 179 exception for restaurant property.
That Section 179 website has not been completely updated. Don't use it if you plan to follow the rules this year. It's not completely accurate.
The purpose of Section 179 is still the same: to allow for the vast majority of business capital expenses to be deducted as current expenses. That's all I was using the website for, as it stated that general premise. When you look at the current Section 179 statute as it reads, this still holds true, as there are very few exceptions within Section 179.