What is Section 179?

Section 179 is a tax deduction the federal government offers to businesses, giving them the freedom to write off purchases for certain qualified and depreciable assets. You can write off expenses immediately instead of writing off the asset's depreciation each year. It delivers a more immediate impact on your finances, giving you a leg up come tax time.

The above is an overall, "birds-eye" view of the Section 179 Deduction for 2024. For more details on limits and qualifying equipment, as well as Section 179 Qualified Financing, please read this entire website carefully. We will also make sure to update this page if the limits change.

How it Works

There are criteria one must meet to qualify for Section 179 Tax Deductions. This program limits vehicle use only to models that are employed at least 50% of the time for business-related purposes. There are also guidelines that use your vehicle's gross vehicle rating (GVWR).

• Light Section 179 Vehicles: Vehicles with a manufacturer's GVWR under 6,000 pounds. Includes passenger cars, crossovers, SUVs, and small utility trucks.
• Heavy Section 179 Vehicles: Vehicles with a manufacturer's GVWR of at least 6,000 pounds but no more than 14,000 pounds. Includes full-size SUVs, commercial vans, and pickup trucks.
• Other Section 179 Vehicles: Vehicles with a manufacturer's GVWR over 14,000 pounds or a vehicle modified for nonpersonal use.

Additional Section 179 Considerations

In 2024, the amount a business can write off via Section 179 Tax Deductions is set to $1,200,000. However, there are limits imposed based on the vehicle. For example, SUVs allow you to write off up to $30,500 per vehicle. Despite those limitations, there is also the possibility of writing off up to 100% of the purchase price of qualifying models.

Whether you want a car, truck, or SUV, Country Chevrolet Inc. is happy to help.

Chevy Vehicles that Qualify for Section 179 Tax Deductions

Build an unbeatable fleet with a Chevy. Take a look at the models that qualify for Section 179 Tax Deduction.

Contact Country Chevrolet Inc. To Learn More