New Section 179 Tax Savings in New Hampshire
When you're looking to buy a used commercial vehicle to add to your fleet, be sure to take advantage of the Section 179 tax savings that are available! At our commercial vehicle dealership in Hooksett, we can review the benefits of the Section 179 tax deduction and show you how easy it is to claim savings on your vehicle!
The Section 179 tax plan was introduced to help small- and medium-sized businesses invest in themselves, so don't miss out on the tax advantages available when you buy a Ram truck or Ford cargo van. The Section 179 tax deduction can be applied to many different vehicles, so long as they're placed into service by end of day on December 31, 2024. Learn more about Section 179 tax savings and reach out to Merchants Auto if you have any questions!
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2024 Section 179 Tax Deduction Limits
The Section 179 limits and guidelines include:
- 2024 Deduction Limit: $1,220,0001
- Valid on new and used equipment (must be new to buyer), either purchased or leased.
- 2024 Spending Cap: $3,050,0001
- Upon reaching this cap, deduction is reduced on dollar-for-dollar basis.
- 2024 Bonus Depreciation: 60%
- This tax benefit enables a business to deduct a substantial percentage of the purchase price of qualifying assets immediately.
- Typically claimed after the Spending Cap is achieved.
- Applicable to both new and used vehicles.
Buy a qualifying vehicle and have it titled in your business's name to claim the Section 179 tax savings. If you have questions, feel free to contact Merchants Auto!
Which Vehicles Are Eligible for Section 179 Savings?
Vehicles eligible for the Section 179 tax deduction include:
- Ram 1500
- Ram 2500
- Ram 3500
- Ram ProMaster®
- Ford Transit
- Sprinter 2500
- Chevy Silverado
Ram Trucks & Cargo Vans for Sale in N
Stop by our commercial vehicle dealership in New Hampshire to browse our selection and see what you'd like to claim for your business. The Section 179 tax savings are available to take advantage of through the end of the year, so be sure to visit and claim the incentives that are available!
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