Filed under: car buying, car buying advice, dodge, jeep, nissan | Tags: business vehicle tax benefit, irs section 179, section 179 tax eligible vehicles, tax write-off, vehicle depreciation
If you’re a business owner, you’re probably aware that you can write off the depreciation of your business vehicle as an expense. But did you know that IRS Section 179 Expense Allowance can often qualify you for a deduction on the actual cost of new vehicles over 6,000 pounds (GVWR)?
The IRS amendment limits expense to $25,000 for eligible vehicles. For our dealer group, this includes vehicles such as the Dodge Ram, Dodge Dakota, Dodge Sprinter line, multiple Jeep products, Nissan Armada, Nissan Pathfinder, and Nissan Titan, among other models. Vehicles coming in at under 6,000 pounds GVWR don’t qualify for Section 179, limiting the first year deduction for depreciation to $3,060.
Consult your financial advisor if you think your business could benefit from Section 179, and then contact the JelMAC store of your choice to take advantage of these opportunities!
