Tax Code 179 is back and this is great news for small businesses!
What is Tax Code 179?
Tax Code 179 is Section 179 of the IRS tax code which allows businesses to deduct the purchase price of qualifying equipment purchased or financed during the tax year. That means that if you finance/purchase a commercial truck, you can deduct the cost from your business income for the 2016 tax year. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves.
This 100% deduction is good on all Hino trucks up to $500,000. The equipment must be financed/purchased and put into service by December 31st 2016.
Contact us for more information.
Is this Commercial Truck Sale Incentive good for you?
Section 179 is one of the few tax incentives that target small businesses. Although large businesses also benefit from Section 179 or Bonus Depreciation, the original goal of this legislation was much needed tax relief for small businesses – and millions of small businesses are actually taking action and getting real benefits.
Ask your accountant if this program is beneficial for your business, then contact C&M Motors to get your commercial truck sale completed this calendar year to qualify!
Happy Holidays from
C&M Motors – San Diego’s premiere Hino dealership!