Section 179 Tax Savings Illinois

Big Time Tax Breaks for Your Business: Section 179 Tax Deductions on Commercial Vehicles are Here

Do you own a business in Nashville, IL? Here's a back door to some big-time savings for your company. Section 179 Tax Deductions can help you eliminate major costs for your vehicles. If your business truck or SUV meets these parameters, you eliminate up to 100 percent of the purchase price. Check out how the Section 179 Tax Deductions can increase your bottom line.


 

Section 179 Tax Deductions at Holzhauer Auto and Motorsports Group

Here are the parameters. Each vehicle must be used for business purposes more than 50 percent of the time.

Complete Deduction

This 100 percent deduction is eligible for large trucks, cargo vans, and 10+ passenger vans with a Gross Vehicle Weight Rating (GVWR) of more than 6,000 pounds. Here's a good look at some of the types of vehicles that could receive this deduction.

  • Ford F-250
  • Ford F-350 and Above
  • Ford Transit
  • Ram ProMaster
  • Ram 2500
  • Ram 3500 and Above
    • GMC Sierra 2500 and Above

Partial Deduction for Trucks, Vans, SUVs

You can get deductions for up to $30,500 off the purchase price-plus 60 percent of the remaining purchase price plus a standard depreciation deduction. This covers vehicles with a GVWR of 6,000 pounds or more. Here's a quick look at some of the types of vehicles eligible for this deduction.

  • Grand Wagoneer
  • GMC Yukon
  • GMC Yukon XL
  • GMC Acadia
  • GMC Sierra 1500

Partial Deduction for Smaller SUVs and Vehicles

Lastly, all vehicles with a GVWR of 6,000 pounds or less can receive up to $20,400. This deduction might be considered for taxi or rideshare services. Here are a few examples of the types of vehicles that fit this mold.

  • Ford F-150
  • Ram 1500
  • GMC Sierra 1500
  • Ford Expedition Max
  • Grand Cherokee
  • Dodge Durango

Holzhauer Auto and Motorsports Group

There's nothing like a huge tax write-off to kick your business off to a good start. Whether you've got a large business in St. Louis, MO, or a small business in O'Fallon, IL, we have vehicles that can get you to from Point A to Point B. Explore our new Ford, GMC, and CDJR inventory today. And contact your tax specialist for any more details about this dynamic Section 179 Tax Deduction near Highland, IL.