Section 179 Tax Deductions for Commercial Vehicles
When you’re a small business owner in New Orleans, LA, every way you can find to save some money is huge. Our dealership understands that it can be tough to run a successful small business and know how important it is to find places you can save. We have a COMMERCIAL SALES department that has helped many area businesses get the vehicles they needed to help make their businesses run. Currently, Bergeron Chrysler Dodge Jeep RAM, located at 3525 Veterans Memorial Boulevard in Metairie, LA, is trying to alert our customers who purchased a commercial vehicle from us this year about the possibility of saving some money through a Section 179 deduction. We are proud New Orleans dealership in Metairie that is proud to serve the nearby areas of Westwego, Kenner, and Slidell, LA.
Ask us about Commercial Financing & Tax Savings!
- Competitive Rates and Terms for purchase
- Seasonal Payment Options
- Trac Lease Financing
- We can help you establish a Commercial Line of Credit
- Upfit Financing for Ram 3500/4500 & 5500 bodies
- IRS Section 179 and Bonus Depreciation (attached By Model Lookup)opens PDF
We’re always on the lookout for the best financing options for you, our valued Commercial business customers!
What is a Section 179 Deduction?
A Section 179 deduction is a tax deduction that can be used on vehicles that are bought or leased for commercial purposes. Anyone who bought or leased a vehicle within the past year may quality for this deduction. The vehicle must be used at least 50% of the time for commercial use and it can be new or used. It must also be financed. Additional requirements for a vehicle to qualify for this deduction include:
- The company must have a minimum of two years in business
- The owner of the company and the company itself must have good credit
- The vehicle should be titled in the company name
- Deductions can’t exceed the net income of the business for the year
Metairie, LA business owners can deduct the percentage of the cost associated with how often it is used for business purposes. For example, if the vehicle is used 50% of the time, and equal percentage of the cost can be deducted. There are restrictions on the type of vehicles and the dollar amount of deductions. For questions on that, please consult a tax professional.
Do I Still Have Time to Buy or Lease?
One of the common questions we get from New Orleans, LA customers about the Section 179 deduction is whether they can still take advantage of it this year. The answer is that any applicable commercial vehicle bought or leased by December 31st, 2019 can qualify. Check out our NEW INVENTORY, examine our COMMERCIAL INCENTIVES, and buy or lease your commercial vehicle at Bergeron Chrysler Dodge Jeep RAM, in Metairie, LA, today to take advantage of this great deduction.