Here's What You Need to Know About Section 179 Deduction Tax Code

Are you or someone you know a small business owner in the New Castle area? Then you might have heard of Section 179 of the IRS tax code. If not, the folks at Bayshore Ford Truck Sales are more than happy to get you up to speed about this tax deduction code focused on small businesses like yours.

If your local Delaware business could use new equipment for the 2018 fiscal year, the tax savings you could qualify for are reason enough for you to pay close attention to the details of Section 179 and how they apply to you.

Key details about Section 179 and how you'll benefit from it:

  • If you plan on purchasing qualifying commercial equipment before December 31, 2018, you can deduct your total equipment cost of up to 1,000,000 dollars from your business' gross income.
  • If your new or used qualifying equipment costs surpass the 1,000,000-dollar maximum, you can rely on the available 2018 bonus depreciation of 100 percent to take over where the Section 179 cap cuts off.
  • To deduct your eligible equipment expenses and take advantage of the 100 percent bonus depreciation convenience, the commercial vehicles you need must be purchased and put to business-related use by the end of the year - midnight on December 31, 2018.
  • Qualifying commercial vehicles include Ford F-Series trucks, transit cargo vans, service utility vans, dump trucks, passenger wagons and so on. You can efficiently browse our complete work truck inventory online or visit us to see what we have that fits your business.

There's plenty of aspects that go into managing a small business, and we applaud you all the effort you put into yours. We want to help by offering a complete lineup of dependable commercial vehicles that could add to your success. With competitive pricing on top of potential tax savings via Section 179, there's more than one reason to choose Bayshore Ford Truck Sales for your business needs. Contact us today!

Categories: Finance
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