Section 179 for Used Trucks in Dover, DE
Do you plan to purchase or finance a used truck or van for your business in Dover, DE? If so, you might be able to get a nice tax benefit. The Section 179 tax deduction lets you deduct all or part of the cost of your vehicle in the first year that you use it for business, so long as it qualifies.
Qualify for the Section 179 Deduction in 2022
The list of vehicles that can get a Section 179 Tax Write-Off include:
- Trucks, Vans, and SUVs that are more than 50% business-use and exceed 6000 lbs.
- Obvious “work” vehicles that have no potential for personal use.
- Delivery-type vehicles, like a cargo van or box truck with no passenger seating, can qualify.
However, we always recommend that you speak to an accountant or tax professional since the IRS occasionally issues updates and guidance to rules relating to Section 179.
Financing for Business Vehicle
You can finance your used truck or van while taking a Section 179 deduction. This is an effective way to purchase your work vehicle and save on taxes. If your company is more than two years old with a good credit history, Section 179 qualified financing can help you save even more! Fill out our financing application to see if you qualify for an auto loan.
Used Trucks for Business Tax Write-Off
When looking for a heavy vehicle that qualifies for a Section 179 tax deduction, consider looking into a used truck or van. A pickup is a perfect workhorse for towing and tackling punishing terrain, while vans offer efficient cargo space and options to make loading easier. Both are great vehicle types to suit your business needs.