If you’re in the market for a new business vehicle, you may want to consider purchasing it before the end of the year. That’s because you may be able to take advantage of a tax deduction known as Section 179. Lynch Chevrolet Of Mukwonago has a vast inventory of qualifying vehicles and the knowhow to help you maximize your benefit.
Section 179 of the tax code allows businesses to deduct the full purchase price of certain types of equipment, including vehicles, when they’re purchased and put into service. This deduction can save you a significant amount of money on your taxes, making it an attractive option for business owners.
Of course, there are some limitations to the deduction, so it’s important to talk to your tax advisor to see if it’s right for you. But if you’re in the market for a new business vehicle, give us a call today!
Maybe your business relies on the hauling power and strength of a Heavy Duty Truck. Loaded up with tools and materials, or trailering half the farm, your truck moves your business forward. You probably know that writing off business expenses at tax time will save you money. But did you know that adding a new vehicle to your business fleet before the year’s end helps you take advantage of incentives and specials on auto financing on top of the significant tax benefits?
Maybe your business requires eating up the miles but arriving in style. You know you want a luxury vehicle for maximum comfort that’s sure to impress your clients. Your new ride picked up before year’s end, will save you hundreds on your corporate taxes. Take advantage of the write-offs available for businesses small or large.