Section 179 Tax Deduction in Spokane WA
Nissan understands the importance of maximizing tax benefits when it comes to you and your business. Discover how you can potentially unlock savings for your company and increase your bottom line with the Section 179 tax deduction.
What is a Section 179 Tax Deduction?
The Section 179 tax deduction allows businesses to deduct the full purchase price of qualifying equipment purchased during the year, instead of depreciating the cost over time. The U.S. government created the incentive to encourage businesses to buy equipment and invest in their companies. The maximum deduction amount allowed can change from year to year. According to Section179.org, vehicles must be used for business purposes at least 50% of the time to qualify for a Section 179 tax deduction. Furthermore, new, used, and certified pre-owned vehicles qualify. What matters is that the vehicle is new to you.
For the latest information, visit the IRS website for complete details and limitations. (It’s important to know that tax laws are subject to change. The information provided here does not constitute tax advice. Please consult with a tax professional regarding deductions for business expenses.)
Wendle Nissan Business Advantage Team is Here for You
At Wendle Nissan, we are here to help you unlock your business growth. Understanding the specific requirements and operational needs of your business is crucial to finding the best vehicle for you. Our team will discuss your business goals and review exactly what your business does. No matter the industry, whether food delivery, contracting or rideshare driving, Wendle Nissan has the vehicle for you.
By tailoring our services, we can provide solutions that cater to a wide range of business needs. This approach can help you make informed decisions, selecting the vehicles that will meet your standards, needs and best align with your tax requirements. Let us help you expand your fleet and take advantage of tax savings at the same time.