The Section 179 of the IRS tax code allows businesses to deduct the full purchase costs of any qualifying vehicles that are bought or financed during the tax year. In other words, if you buy or lease a car for your business, you may qualify to subtract the expense from your income.
Section 179 Deduction at Mercedes-Benz of Smithtown
Buy or lease a qualifying Mercedes-Benz and receive a tax-deduction up to $25,000. Section 179 of the tax code rewards small- and medium-sized companies for investing in themselves by offering a tax break on certain purchases and leases, including eligible new and used Mercedes-Benz vehicles.
WHAT DOES THE 179 TAX SAVINGS DO FOR ME?
It gives you a chance to deduct up to $25,000 of a qualifying vehicle from your business’s gross income during that tax year—all at once.
In some cases you may even be able to deduct the full purchase price of your vehicle. (Please consult your tax professional to find out if you qualify for the full amount).
It’s especially helpful for small businesses who want their tax savings right away, rather than receiving them bit by bit over time through depreciation.
It gives many businesses the financial leeway to purchase vehicles they need right away, rather than waiting.
Section 179 Tax Savings
Does my business qualify to get this deduciton?
You may qualify if you:
Are a business that purchased or financed new or used business equipment—including business-use vehicles—during the 2019 tax year
Put this equipment into service between January 1, 2019 and December 31, 2019
Used this equipment for business purposes more than 50% of the time
Spent less than $3,500,000 on this equipment
Section 179 Tax Savings
WHAT ARE THE DOLLAR AMOUNT LIMITS ON CLAIMING THIS TAX SAVINGS?
These are the limits:
You cannot write off more than $1,000,000
The total amount of the equipment purchased cannot be more than $2,500,000. It phases out dollar-for-dollar after that, so once $3,500,000 is spent, the deduction goes away entirely.
The Efficiency Your Business Needs with the Luxury of a Mercedes-Benz
Mercedes-Benz of Smithtown is one of the largest Mercedes-Benz Commercial Dealerships in the Northeast Region. With an extensive inventory ofSprinter andMetris Commercial Vans, Mercedes-Benz of Smithtown has everything you need to keep your business running efficiently. We offer a wide range of Sprinter and Metris vans available in bothCargo andPassenger styles with a variety of options such as different wheelbases, gas, diesel, payloads, and so much more.
Our knowledgeable and friendlySales Consultants are eager to assist you with matching your Sprinter or Metris van to your business’ exact needs. With options to add Refrigeration, Wheelchair Accessibility, HVAC & Plumbing, Electrical/Telecom, and Lifestyle features,upfitting your Sprinter and Metris van have never been easier.
Mercedes-Benz Sprinter and Metris vans could help your business qualify forsignificant tax deductions that would save you and your business money. Additionally,Mercedes PRO Connect aims to maximize connectivity and minimize inefficiency for your business by working both remotely and onboard to assist with efficiency, intelligence, and safety.