Section 179 Tax Incentive
Take Advantage of The Section 179 Tax Incentive at Premier CDJR of Buena Park
At Premier CDJR of Buena Park, we want to do all we can to help support the economy of our community and our fellow business owners in Los Angeles and Long Beach. We fully understand the challenges you face owning a business and the sacrifices you make to provide an income for your employees and support the local economy. So, we want to ensure that you understand the significant benefits of the Section 179 Tax Incentive.
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What Is Section 179?
Section 179 is a part of the IRS tax code that allows businesses to deduct the entire purchase price of equipment, such as a new cargo van or work truck. The purchase or lease price of the vehicle is removed from your gross income to serve as an incentive to invest in your business and grow the economy.
Who Is Eligible For Section 179?
Your business qualifies for Section 179 if you buy, lease, or finance less than $4,270,000 in new or used business equipment in the 2024 tax year. However, it is essential that you know that the equipment purchased must also be put into service within the 2024 calendar year.
How Does Section 179 Work?
Section 179 allows businesses to write off the entire purchase or lease price of equipment or vehicles in the year of the purchase rather than the slow depreciation of the asset. In short, you see the full tax benefit of the investment you make in your business in the year you spend the money.
Are There Limits To Section 179?
There are limits to the amount you can write off per year under Section 179. In 2024, you can fully deduct up to $1,220,000 for the year, with a maximum equipment purchase of $3,050,000 in 2024. The deduction reduces dollar for dollar if you invest more than $4,270,000 in 2024.
Find New Commercial Vehicles For Sale in Buena Park, CA
Premier CDJR of Buena Park is here when you are ready to invest in your business with a new RAM pickup truck, RAM Chassis Cab, RAM Promaster City, or RAM Promaster. These hardworking vehicles are prepared to help you grow your business with dependable transportation. From our RAM 1500, 2500, and 3500 pickup trucks that are perfect for contracting and delivering to the customizable RAM Chassis Cab that can be built to meet your specific needs, these trucks are ready to handle the most challenging jobs on the planet. Or if you are looking for the perfect deliver vehicle, our Promaster line offers all the features and functionality you could ever want.
Please stop by our full-service dealership to explore your options and find your ideal work vehicle. We offer trucks with gas or diesel engines, a massive towing capacity of up to 35,000 pounds, and countless options to customize a workspace in our Promaster series. Just let our commercial vehicle experts know a little more about your business and what you need, and we will show you all your options for a great new work vehicle that will qualify for the Section 179 tax incentive.