As a business owner, investing in your company's fleet of commercial vehicles is a smart way to enhance operations and boost productivity. Did you know that purchasing commercial vehicles can also provide significant tax benefits? The Section 179 tax deduction allows Sioux Falls and South Dakota businesses to cut their tax liability by buying qualifying vehicles and equipment.
What is the Section 179 Tax Deduction?
The Section 179 tax deduction allows businesses to deduct portions of the purchase price of qualifying equipment and vehicles bought or financed during the tax year. Instead of writing off the cost over several years through depreciation, you can write off the entire expense simultaneously. This provides substantial tax savings for the year the vehicle is purchased.
Essentially, the Section 179 deduction enables Sioux Falls businesses to save on taxes by investing in themselves. By purchasing needed commercial vehicles and equipment, you can write off the cost and reinvest the tax savings back into your business.
Qualifying Commercial Vehicles
Many types of commercial vehicles qualify for the Section 179 deduction, including:
- Pickup trucks
- Cargo vans
- SUVs and crossovers
- Passenger vans and shuttles
At Sioux Falls Ford, we have a wide selection of commercial vehicles in our commercial vehicle inventory that may qualify for this valuable tax deduction. Our knowledgeable commercial sales team can help you select the right vehicles for your business needs.
Upgrade Your Business Fleet and Save
There's no better time than now for South Dakota businesses to upgrade their commercial fleets. By purchasing qualifying vehicles before December 31st, you can take the full Section 179 deduction for this tax year. This allows you to immediately expense the cost of the vehicles and save on your business taxes.
Whether you need a single commercial van or an entire fleet of work trucks, investing in new vehicles can help take your Sioux Falls, SD, business to the next level. Newer vehicles often have advanced features, better fuel efficiency, and lower maintenance costs, enhancing productivity and reducing expenses. Plus, you'll benefit from the Section 179 tax deduction.
Learn More at Sioux Falls Ford
We invite all Sioux Falls and South Dakota business owners to browse our extensive commercial vehicle inventory online or stop by our dealership to view the options in person and consult with our commercial team. We're committed to being your partner in business success.