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Section 179 Tax savings gives you a chance to deduct up to $25,000 of a qualifying vehicle from your business’s gross income during that tax year- all at once. This code lets businesses (small and medium-sized) lease or purchase certain new or used vehicles and claim a tax deduction for the currently tax year. It gives many businesses that financial freedom to purchase vehicles they need right away, instead of waiting.
As a business tax code, Section 179 applies to vehicles such as cargo, passenger vans and buses. To earn a tax deduction you must select a vehicle with a gross vehicle rating (GVWR) of 6,000-14,000 lbs. Some of the vehicles included in the Section 179 Tax Benefit would be:
If you are looking to lease or buy a Mercedes-Benz vehicle that is eligible for Section 179 tax write off, stop by Rallye Motors to check out our inventory.
You depend on high-performing work vehiclse, to better meet the needs of your customers. To make this even easier, Section 179 allows you to take a deduction on a new Mercedes-Benz GLS, GL-Class, G-Class, or Sprinter for the current tax year, instead of deducting the cost in increments as a depreciating asset. If you decide to finance a vehicle, the tax savings from the Section 179 write-off may surpass the first year’s total loan payment amount, making financing a highly affordable option.
Stop by Rallye Motors before December 31st! Contact us at 516-473-0794