Marino Chrysler Jeep Dodge Ram
If your business is purchasing a qualifying commercial vehicle, Section 179 of the federal tax code may allow you to deduct all or part of the vehicle’s eligible cost from your taxable business income. Unlike traditional depreciation, which generally spreads the cost of an asset over multiple years, Section 179 may allow eligible businesses to expense qualifying property in the year it is placed into service, subject to applicable requirements and limitations.
Vehicle eligibility and deduction limits can vary, however, based on the type of vehicle, its configuration, how it is used, and your business’s individual circumstances. Certain qualifying SUVs, for example, are subject to a separate Section 179 limitation.
For businesses that rely on trucks, vans, SUVs, and other vehicles to keep operations moving, a new vehicle can be an important business investment. At Marino Chrysler Jeep Dodge Ram, we’re here to help you explore commercial and fleet vehicle options that fit the demands of your operation. If you’re considering a new business vehicle, Section 179 may be able to help you out.
When your business needs a new vehicle, you’re making an investment in the way you operate, grow, and serve your customers. The right truck, van, or SUV can help your team transport equipment, haul materials, reach job sites, make deliveries, and take on more of the work that keeps your business moving.
From capable trucks and commercial vans to business-ready SUVs across our full inventory, Marino Chrysler Jeep Dodge Ram has vehicles designed to handle demanding jobs. From towing capability, cargo capacity, versatility, or a vehicle that can be added to an existing fleet, we can help you explore options built around your business needs.
Not every business vehicle receives the same Section 179 treatment. Vehicle classification, weight, configuration, business use, total qualifying purchases, and taxable income can all affect the deduction. Your tax professional can help determine whether your vehicle and business meet the applicable requirements.
If you’re already planning to add a vehicle to your business or fleet, understanding the potential tax treatment can be an important part of the purchasing process. Section 179 may provide an opportunity for eligible businesses to deduct qualifying vehicle expenses, but the amount you can claim depends on your specific vehicle, business use, and tax situation.
Marino Chrysler Jeep Dodge Ram can help you find a vehicle that’s ready for the job. Explore our commercial inventory to find your next truck, van, SUV, or fleet vehicle, then consult your qualified tax professional to determine how Section 179 may apply to your purchase.
Section 179 is a provision of the federal tax code that allows eligible businesses to elect to deduct the cost of certain qualifying property, including some business vehicles, from taxable income in the year the property is placed into service. Specific eligibility requirements and deduction limits apply.
No. However, business-use requirements apply. For many vehicles considered listed property, the IRS generally requires more than 50% qualified business use to claim a Section 179 deduction. Your tax professional can determine how the rules apply to your specific vehicle and circumstances.
Yes. Section 179 has annual deduction limits, and the deduction can begin to phase out when a business places more than a specified amount of qualifying property into service during the year. Additional limitations can apply depending on the type of vehicle and how it is used.
Eligibility depends on your specific vehicle, how it is configured, how it is used, when it is placed in service, and your business circumstances. Marino CDJR can help you explore available commercial vehicles, while your qualified tax professional can determine whether your purchase qualifies for Section 179 and how much you may be able to deduct.
*Tax information provided is for general informational purposes only and is not tax, legal, or accounting advice. Section 179 eligibility, deduction amounts, business-use requirements, vehicle classifications, and other limitations vary by taxpayer and vehicle. Tax laws and limits are subject to change. Consult your qualified tax professional regarding your specific circumstances before making a purchase or claiming a deduction.
