What is the Section 179 Tax Deduction?
Section 179 of the IRS tax code allows businesses to deduct the purchase price of qualifying new or used equipment purchased during the tax year. This means that if you purchase a new or used commercial truck for your fleet, you can deduct the purchase price from your gross income tax. This government incentive encourages businesses to buy equipment and invest in themselves.
With the 2018 fiscal year nearing the end of Q3, it is good time to review your business transportation needs and consider the opportunity to invest in new or used trucks for your fleet. At C&M Motors we have both new inventory and used available to assist you with your delivery and transportation needs.
And that’s exactly what Section 179 does – it allows your business to write off the entire purchase price of qualifying equipment for the current tax year. For most small businesses, the entire cost of qualifying equipment can be written-off on the 2018 tax return (up to $1,000,000).
If you have any questions about Section 179 or how it would apply to your business, we recommend you check with your accountant. But for transportation needs and trucking expertise, we are San Diego’s premiere Hino dealership and would like to be your valued business partner.
Call out specialists today for help choosing the right options for your new or used Hino. Make a great connection with a valued trucking partner and qualify for tax deductions. Invest in yourself, we are here to help.
C&M Motors – San Diego’s premiere Hino dealership!