SECTION 179 TAX DEDUCTION
Section 179 Tax Deductions | Taking Your Business to the Next Level
We can help your business thrive. At Cargill Chevrolet, we make it our mission to assist businesses of any size in getting the automobiles they need to maximize their performance and achieve their objectives. With Section 179 tax deductions, you'll have a great tool in your pocket that's ready to help you improve your cash flow while obtaining the equipment your business needs to stay on task.
We partner with contractors, fleet operators, plumbers, landscapers, electricians, small business owners, and more. With Cargill Chevrolet and Section 179, we will help maximize your savings while minimizing your losses.
What is Section 179?
Section 179 is an IRS tax code that allows businesses to deduct the cost of qualifying equipment, which includes approved automobiles. This tax code applies to equipment purchased in the same year and used for business purposes at least 50% of the time.
Key Advantages of Section 179
- Reduction of taxable income that's immediate. Your business does not have to write off deductions a little at a time.
- Enhanced year-end cash flow planning.
- The freedom to reinvest your tax savings back into your business operations.
- A wide range of qualifying equipment you can choose to support your business functions.
Qualifying Chevrolet Models
Section 179 tax deductions allow you to purchase qualifying vehicles for your business. A vehicle's Gross Vehicle Weight Rating (GVWR) is used to determine if it's eligible. Models over 6,000 pounds may qualify under this program.
Qualifying Chevrolet Models
- Chevy Silverado 1500
- Chevy Silverado HD
- Chevy Colorado
- Chevy Blazer EV
- Chevy Equinox EV
- Chevy Suburban
- Chevy Express Vans
Example of Potential Tax Savings
If your business buys a Chevy Silverado 3500HD model for approximately $85,000, and you're in a 30% combined tax bracket, you can reduce your tax liability by around $25,500. It's best to consult with a tax advisor to determine how Section 179 can fit into your business plans.
Reasons to Choose Cargill Chevrolet
Embrace a better dealership experience when you choose Cargill Chevrolet. Our team is ready and willing to go the extra mile to ensure you have everything you need to be successful. Our knowledgeable staff is here to assist you through every step of the process. Shop smarter when you choose Cargill Chevrolet.
How Can We Help?
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Cargill Chevrolet
23 LIVERY ST
PUTNAM, CT 06260
- Sales: (877) 393-9329
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