Cutting expenses is one surefire way to make more money with your business. And the Section 179 helps you do just that. Combined with a Special Bonus Depreciation Allowance, this law will allow you to side-step vehicle depreciation and even qualify for a vehicle tax write-off. Here's a quick preview of Section 179 tax break and what kinds of vehicles qualify.
Section 179 Main Points
For a vehicle to qualify for Section 179 benefits, 50% of its use must be dedicated to work. This is great for fleet trucks, sprinter vans, and rideshare vehicles. There are certain spending caps and other nuances, like gross vehicle weight and total usage, for this tax break. We just wanted to give you the main points. For more information, contact your local tax specialist in Freeland, Saginaw, or Bay City, MI. After all, we just sell cars. And here's a few that can possibly qualify for Section 179 benefits.
Qualifying Vehicles
The Ford Expedition Max
Imagine picking up your business partners from the airport with this full-sized luxury SUV. There's room for eight with first-row heated and ventilated seats, second-row heated seats, and multi-contour seats with Active Motion® massage. It's a great way to make your partners feel at home right from the go.
Chevy Blazer EV
This smaller SUV may have a reduced deduction allowance if it's not used for business 100% of the time. But if you have a rideshare business, imagine the customers who will leave great ratings after a ride in this impressive SUV. Ecotex seating, a standard 17.7-inch touchscreen, and a GM-estimated 320-mile range when fully charged will create a ride to remember.
Chevy and Ford Work Vans and Trucks
You can check out options like the Chevy Silverado 1500 Work Truck, The Ford F-250 XLT, and the Chevy Cargo Express Van 2500. As long as these vehicles are used 100% for your small business, you can deduct over half the purchase price.
Burt Watson Auto Group
You can check out our Burt Watson Ford and Chevy dealers and browse new qualifying inventory for your local business. We make it easy to get pre-approved and financed for your new Ford or Chevy in one swoop. Check them out today and get those Section 179 savings rolling in.
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