Section 179 Tax Deduction

 
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Section 179 Tax Deduction Information-


What is Section 179 Deduction for Vehicles
The Section 179 of the IRS tax code allows businesses to deduct the full purchase cost of any qualifying vehicles that are bought or financed during the tax year. In other words, if you buy or lease a Mercedes-Benz vehicle for your business, you may qualify to subtract the expense from your income.

Section 179 Deduction at Mercedes-Benz of Hanover
Receive a tax-deduction of up to $25,000 when you buy or lease an eligible Mercedes-Benz SUV. Under Section 179, your small- or medium-sized business can receive rewarding tax breaks for investing in itself. This section of the tax code applies to certain leases and purchases, including several new and used Mercedes-Benz models.

The Tax Benefit of Section 179
The normal tax treatment applicable to the lease and purchase of capital equipment is to depreciate the cost over several years. In this way, the company recoups part of the cost through annual tax deductions. Section 179 is a special accounting procedure that permits a small- or medium-sized company to deduct the cost of eligible leases and purchases in the current tax year. The maximum Section-179 write off of $25,000 might by greater than your outlay in the first year, making your Mercedes-Benz lease or purchase even more affordable.

What Mercedes-Benz Vehicles Are Eligible for Section 179 Deduction?
Your business benefits by the sizeable tax break that Section 179 provides when leasing or purchasing an eligible Mercedes-Benz vehicle. For a leased or purchased vehicle to qualify, it must be a crossover or SUV that is not normally used as a personal car. In addition, the vehicle must have a gross vehicle rating (GVWR) of 6,000 to 14,000 lbs.
  • Sprinter is a versatile business vehicle that is available in Cab Chassis, Minibus, and Van layouts. No matter what industry you're in, you can upfit the Sprinter for almost any towing or hauling need.  
If you are looking to lease or buy a Mercedes-Benz work vehicle eligible for Section 179 tax write off, drop by Mercedes-Benz of Hanover to check out our inventory.

We'd love to discuss the benefits with you!


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