Section 179 Tax Deductions
Save on New and Used Commercial Vehicles Purchases
with Section 179
Upgrade your business with a new or used commercial vehicle at Young Owosso and Section 179 tax deductions. We offer a great selection of reliable work vehicles to increase your capabilities and bottom line. At Young Owosso, our commercial vehicle specialists can help match you with the right vehicle for your work needs. Thanks to recent updates to Section 179, more vehicles qualify for the deduction as long as you use them for business purposes 50 percent of the time. Contact our team for more information about suitable models to help take your business to the next level.
View Commercial Inventory ÂWhat is Section 179?
Section 179 is a part of the IRS tax code that helps small to medium businesses invest in themselves by allowing them to deduct the full purchase price of equipment for their commercial needs. The deduction significantly reduces the tax liability for smaller businesses so they can get the assets they need right away. The best part is that recent updates allow you to take the full purchase price all at once rather than using complicated depreciation calculations to claim the deduction a little bit at a time. This year, you can claim up to $1,220,000 with a total equipment spending cap of $3,050,000. The cap makes Section 179 a true small business tax deduction. Additionally, once you reach the spending cap, you can take 80 percent of bonus depreciation.
Which Vehicles Qualify for Section 179 at Young Owosso?
All vehicles for sale are Young Owosso qualifies for the Section 179 deduction as long as the vehicle is used for business purposes at least 50 percent of the time. New and used vehicles qualify for the deduction, and all makes and body styles. We have new and used available for all types of work needs, from new Chevy Silverado 1500 pickup trucks, heavy-duty trucks from GMC, or passenger vehicles like the Buick Envision. Choosing the right commercial vehicle depends on your unique business needs and goals.
Contact Our Commercial Vehicle Specialists at Young Owosso
Acquire your next commercial vehicle and put it in service by December 31st, 2024, to deduct the full purchase price next tax season. Call us today for more information and assistance with vehicle selection for your business.
View Commercial Inventory ÂHow Can We Help?
* Indicates a required field
-
Young Owosso
1500 East Main Street
Owosso, MI 48867
- Sales: (989) 725-2184
Loading Map...