Tax Deduction at Liberty Chevy
Business Owners: There’s Over 1,220,000 Reasons to Visit Liberty Now!
Liberty Chevrolet makes it easy for business owners like yourself to take full advantage of IRS Section 179 deductions.
What is the 2024 Section 179 Tax Deduction?
Discover significant tax benefits for your business in 2024! The Section 179 Tax Deduction allows you to deduct the full purchase price of new or used vehicles. To qualify for the deduction in the upcoming tax year, simply finance or purchase and put the equipment into service between January 1, 2024, and December 31, 2024. For 2024, $1,220,000 of assets can be expensed; that amount phases out dollar for dollar when $3,050,000 of qualified assets are placed in service.
Vehicles that are included are:
- Silverado 1500-3500 HD models
- The Silverado 1500 only qualifies for the Section 179 tax break if it used more than 50% of the time for a business
- Silverado 4500-6500 HD models
- Silverado HD Chassis Cab models
- Express Cargo Van
- Express Passenger Van (12- or 15-passenger models only)
- Express Cutaway
- Low Cab Forward
- Colorado (all models except 2WD models w/ 5,800 GVWR)
- Blazer
But that’s not all – after reaching the spending cap, explore Bonus Depreciation, an additional benefit available for both new and used equipment. Don’t miss out on maximizing your tax savings – and reap the rewards!
Liberty Chevrolet is a full-service Medium Duty Commercial Truck dealer, offering a wide range of medium duty trucks, vans, accessories and upfitting services. If you’re looking to improve your fleet – or just want a more comfortable ride when working on the road – fill out the form below or call Liberty Chevrolet today and get the vehicles – and tax benefits – you deserve.
We’ve mobilized our Business Services Department to provide you with priority service in helping you to purchase eligible vehicles.
Expires 12/31/24.
Liberty Chevrolet Business Services Hotline: (877) 344-5895
*Trucks, vans and sport utility vehicles as defined in the Internal Revenue Code with a GVWR over 6,000 lbs. and placed in service during 2024 qualify for immediate depreciation deductions of up to 100% of the purchase price.