As a business owner, you're always looking for ways to save money and reduce your tax burden. One great way to do that is by taking advantage of the Section 179 business tax deduction when purchasing a vehicle for your company. At Haggerty Ford in West Chicago, we have a wide selection of commercial vehicles that may qualify for this valuable tax break.
What is Section 179?
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means rather than depreciating the cost of a commercial vehicle over several years, you may be able to deduct the full purchase price from your gross income on your tax return for the current year. This can significantly lower the amount you pay in taxes and free up cash to invest back into your business.
To qualify for the Section 179 deduction, the vehicle must be used for business purposes more than 50 percent of the time and put into service in the same year that you claim the deduction. Heavy SUVs, pickups, and vans used primarily for business may qualify for this tax incentive. Be sure to consult with your tax professional to see if your vehicle purchase is eligible.
Shop for Commercial Vehicles at Haggerty Ford
If you're in the market for a new commercial vehicle for your business, come visit us at Haggerty Ford in West Chicago. We serve clients from all over the area, including Naperville, Wheaton, Geneva, and Aurora. Our knowledgeable sales team can help you find the right vehicle for your needs and budget.
We have a diverse inventory of commercial vehicles from Ford, including cargo vans, passenger wagons, chassis cabs, and more. Many of our commercial vehicles may qualify for the Section 179 deduction, allowing you to save money on your purchase. We'll work with you to find the ideal vehicle to support your business operations.
Learn More About Section 179 at Haggerty Ford
In addition to our extensive inventory and expert advice, we also offer great financing options for commercial clients. Our finance team will help you secure an affordable payment plan that fits your business budget. We aim to make the commercial vehicle buying process as simple and straightforward as possible.
Visit Haggerty Ford in West Chicago today to explore our inventory and learn more about the Section 179 tax deduction. We look forward to putting you in the driver's seat of your next business vehicle!
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