As a business owner, you're always looking for ways to save money and reduce your tax liability. One often overlooked opportunity is the Section 179 tax deduction, which allows you to deduct the full purchase price of qualifying equipment and vehicles from your gross income. This can lead to substantial tax savings for your business.
If your business is located in the St. Louis, MO area, you're in luck. Holzhauer Auto & Motorsports Group has a wide selection of Ram commercial vehicles that may qualify for Section 179 tax deductions.
What Vehicles Qualify for Section 179?
To qualify for the Section 179 deduction, the vehicle must be used for business purposes more than 50% of the time and be purchased and put into service in the same tax year. Many types of vehicles can qualify, including:
- Ram 1500 full-size trucks
- Ram 2500 and 3500 heavy-duty pickups
- Ram ProMaster cargo vans
- Ram ProMaster passenger vans
If you're a business owner in O'Fallon, IL, these types of commercial vehicles could help you save big on your taxes this year. Be sure to consult with your tax professional to see if your vehicle purchase qualifies.
Significant Tax Savings for Illinois Businesses
The Section 179 tax deduction can result in huge savings for businesses. For example, if you purchase a qualifying Ram 1500 truck for your business in Highland, IL and put it into service that same year, you may be able to deduct the full purchase price from your business's gross income.
This means you could save a significant amount on your tax bill, potentially freeing up cash to reinvest in your business. By strategically using Section 179, savvy business owners in Nashville, IL and throughout the state can optimize their tax strategy and improve their bottom line.
Find Qualifying Commercial Vehicles at Holzhauer Auto & Motorsports Group
Ready to take advantage of Section 179 tax savings for your business? Head to Holzhauer Auto & Motorsports Group to browse our new inventory of Ram commercial trucks and vans. Our knowledgeable sales staff can help you find the right vehicle for your business needs.