Section 179 Tax Savings Commercial Vehicles Utah
Under Section 179, some vehicles used for business in Hudson, IA, could be eligible for up to a 100 percent deduction from 2024 taxes. This includes trucks and vans, along with other vehicles. If you need new equipment for your company in Waterloo, now is the time to buy and save at Jorgensen Chevrolet GMC.
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Up to 100 percent of the Purchase Price
Large trucks like the Silverado and Sierra Heavy Duty line, cargo vans, and vans with a seating capacity of over ten and GVWR over 6,000 pounds qualify for this category. This also includes any chassis cab trucks and cutaway vans available around Cedar Rapids.
Up To $30,500 in Deductions
On top of the $30,500 in deductions, businesses may also be able to deduct up to 60 percent of the purchase price and the standard depreciation deduction. This includes vehicles in Mt. Pleasant with a GVWR of over 6,000 pounds, like the Sierra 1500 and Silverado 1500 with a short bed. SUVs such as the Suburban, Yukon, and Tahoe are also in this category. The Canyon and Colorado also may qualify. Vans with seating for less than ten may also qualify. Contact your tax professional in Ephriam to find out if the vehicle your business needs qualifies.
Up to $20,400 in Deductions
Vehicles with a GVWR under 6,000 pounds may still be eligible for a Section 179 deduction. This category includes vehicles like the Terrain or Equinox purchased by businesses in Centerfield.
Contact Jorgensen Chevrolet GMC
When expanding your fleet in Provo, look to Jorgensen Chevrolet GMC. We have a great inventory of vehicles businesses in Richfield are looking to buy. With Section 179 qualifying vehicles needing to be purchased and put into service before the end of the year, now is the time to buy. Call us to schedule a time to come in and browse our inventory.