Section 179

 

Section 179 of the American tax code was created with businesses in mind. Section 179 of the IRS tax code lets businesses subtract the full purchasing price of applicable equipment and software bought or financed during the fiscal year up to a total of $500,000.* This means if you purchase or lease a piece of equipment that qualifies, you can deduct the entire purchase from your total gross income. The Section 179 incentive was designed by the United States government to support small businesses when they buy equipment and invest in strengthening their brand. Almost any type of business equipment that your company needs to buy could qualify for this tax break.


 

For vehicles that are used more than half in a qualified business manner, the deduction total for depreciation including both the Section 179 expense deduction in addition to Bonus Depreciation is limited to $11,060 for cars and $11,160 for trucks and vans. Some vehicles qualify for expensing up to $25,000 if the vehicle is financed and put in service before December 31 and meets other various conditions. Section 179 for 2017 expires at midnight on 12/31/2017. If you want to deduct the total price of your work equipment from this 2017's taxes and take advantage of the higher deduction limits, it must be bought and put into service by that date.


From the Promaster Series of vans to the wide selection of Ram Tradesman models, to the Ram Chassis, Norristown Chrysler Dodge Jeep Ram has a tremendous variety of commercial vehicles that apply for the Section 179 tax break. Utilizing Section 179 to grab your business the commercial vehicle that it that needs can truly take your business to the next level. Whether that be advertising on the side of a Promaster Van or utilizing a Chassis or a Tradesman to haul your inventory, Norristown CDJR has the selection of vehicles your business needs.


*Please see tax professional for details


Contact

Norristown Chrysler Dodge Jeep Ram

1416 W Main St
Directions Norristown, PA 19403

  • Sales: (888) 468-2701
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  • Parts: (888) 459-5896

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  • Sunday Closed