If you're a business owner looking to purchase new commercial vehicles, now is a great time to take advantage of the Section 179 tax deduction. This deduction allows businesses to write off the full purchase price of qualifying equipment, including commercial vehicles, in the year it's purchased instead of depreciating it over several years.
Benefits of Using the Section 179 Tax Deduction
There are many benefits to utilizing the Section 179 deduction for your business. In Exton, businesses can significantly lower their taxable income for the year by deducting the cost of qualifying vehicle purchases. This means you'll owe less in taxes while being able to invest in vehicles to help your business grow.
Another advantage is that the vehicles you purchase don't have to be brand new to qualify. Used vehicles your business acquires also qualify for the deduction, as long as they are new to you. Businesses in Downingtown can outfit their entire fleet with upgraded vehicles while writing off the full purchase price.
At Fred Beans Ford of Exton, we have an extensive new commercial inventory, including trucks and vans that qualify for the Section 179 deduction. Our knowledgeable sales team can help you select the right vehicles for your business needs.
In addition to our new commercial inventory, we also offer used commercial vehicles that are eligible for the tax deduction. Businesses in Coatesville can find a variety of pre-owned work trucks, cargo vans, and other commercial vehicles at our dealership, all of which can be written off for the 2023 tax year.
To take advantage of the Section 179 deduction, the vehicles must be purchased and put into service before December 31st. Be sure to consult with your tax professional to ensure the vehicles you purchase qualify and that you're following all the guidelines.
If you're ready to upgrade your commercial fleet and save on your taxes this year, visit Fred Beans Ford of Exton. We'll help you find the perfect vehicles for your business that you can write off with Section 179.