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Section 179 Tax Deduction for Commercial Vehicles

When it comes to running your small business, having the best equipment available certainly helps. If you need a commercial vehicle for your business in Doylestown, Philadelphia, Flemington, or Mechanicsburg, you may benefit from the Section 179 Tax Deduction for Commercial Vehicles.

This government program allows businesses to deduct their commercial vehicles for the current tax year, which can help you get the vehicle you need for your business that works with your budget.

Commercial Trucks

There’s never been a better time to get your commercial van, truck, or SUV for your local business. Learn more about the requirements and benefits of this tax deduction.

Section 179 Vehicle Qualifications

Section 179 Tax Deduction for Commercial VehiclesThe Section 179 Tax Deduction allows businesses to deduct the full purchase price of a financed or lease equipment and off-the-shelf software that qualifies.

Here are the guidelines for using the Section 179 Deduction for commercial vehicle purchases:

  • Companies founded prior to 2014.
  • The company and owners must have good credit.
  • Vehicles need to be in the company name, not the owner’s name.

Here are the vehicles that qualify for the Section 179 Deduction:

  • Heavy vehicles with a cargo area at least six feet in interior length.
  • Vehicles that seat nine or more passengers behind the driver’s seat.
  • Vehicles with a fully enclosed driver’s compartment or cargo area.
  • Vehicles with no seating behind the driver’s seat.
  • Vehicles with no body section protruding over 30 inches ahead of the windshield.

Some examples of qualifying vehicles include full-sized pickup trucks with cargo beds, airport or hotel shuttle vans, and cargo vans.

Other Requirements

Section 179 Tax Deduction for Commercial VehiclesThere are some additional requirements for this beneficial deduction. The vehicle can be new or used, but it must be new to you, and it can be financed with qualifying leases and loans or purchased outright.

The vehicle must also be in use at least 50% of the time, and you can’t switch a personal vehicle to business use at a later year to qualify for the deduction.

Section 179 Tax Deduction Calculator

If you’re considering purchasing or leasing a commercial vehicle for the current tax year, take a look at this Section 179 Deduction Calculator for 2018.

All you have to do is enter the expected purchase price of your commercial equipment or software and see what you’re eligible for. This will show you the most current Section 179 limits and any amendments or bonus depreciation for an accurate deduction estimate.

Section 179 Calculator

Get Your Tax Break with a Commercial Vehicle from Fred Beans

With the Section 179 Tax Deduction, now’s the time to get the commercial vehicle for your business! We stock many commercial vehicles, including cargo vans and heavy-duty pickup trucks, for all your business needs.

Call or visit Fred Beans today to learn more about the Section 179 Tax Deduction for Commercial Vehicles and browse our commercial inventory!