It's Your Last Chance to Buy a Commercial Vehicle in Vermont and Deduct it From Your Taxes!
Savvy owners equip their burgeoning businesses with all the tools their work will require going forward, even before they need them. Customers you can't serve because you don't have the equipment to do it are customers you've lost. Set your business up with a commercial vehicle at our Chevrolet dealership near Burlington, VT. Act fast and buy now for the vehicle to be eligible for a tax deduction of up to $25,000 under Section 179!
Section 179 was established to aid small U.S. businesses by encouraging them to invest in themselves and the future of their establishment. Under this tax code, you could be eligible for a deduction on a new commercial vehicle like the Silverado 3500 HD or a Chevrolet Express Cargo Van if it was purchased, financed or leased during this tax year. Here's some additional info:
- The total deduction for depreciation (including both the Section 179 expense deduction and Bonus Depreciation) for passenger cars, vans and trucks that are used more than half of the time in a qualified business use is capped at $11,060 for cars and $11,160 for trucks and vans.
- Crossover vehicles or SUVs with GWVR (gross vehicle weight rating) over 6,000 pounds are limited to up to $25,000 in expensing.
- Non-SUV vehicles with an interior cargo area or cargo bed that is inaccessible from the passenger area and is at least six feet in length (such as pickup trucks, traditional cargo vans and shuttles) qualify for the full deduction.
- All qualifying vehicles must be financed and placed into service by December 31, 2014.
Prepare your business for the future and save big when you do it by taking advantage of this tax deduction and buying the commercial vehicle you need. Don't delay -- the deadline for the Section 179 Deduction is at the end of December, and your vehicle must be financed and in active service before the year is up. Get on down to Shearer Chevrolet Buick GMC Cadillac now!
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