Get the Section 179 Deductionin Frederick, MD
Do you own a small business in Maryland? Wondering if you can get a tax deduction on your company vehicle? The finance team at our GMC dealership in Frederick is ready to help you learn about a Section 179 deduction. Whether you drive a delivery van, commercial truck or you chauffeur passengers in an SUV, we’ll get you the Section 179 deduction that your business deserves. And if you’re looking for a new or used company car, we’ll show you our inventory of Buick and GMC models that can qualify for a Section 179 tax deduction. Ideal Buick GMC is here to save businesses money with all the Section 179 information you need!
Section 179 deduction limits for 2022 are as follows:
- 2022 Deduction Limit: $1,080,0001 -- valid on new and used equipment (must be new to the buyer).
- 2022 Spending Cap: $2,700,0001 -- the max amount that can be spent on equipment before the Section 179 Tax Deduction begins to reduce on a dollar-for-dollar basis.
- 2022 Bonus Depreciation: 100%1 -- generally taken after the Spending Cap is reached, valid on new and used equipment.
- Deduction limit of $11,160 for cars (including Bonus Depreciation)1
- Deduction limit of $11,560 for trucks and vans (including Bonus Depreciation)1
- Deduction limit of $25,000 for certain SUVs between 6,000 and 14,000 pounds (including Bonus Depreciation)1
Business vehicles must meet the following requirements to qualify for a Section 179 deduction:
- Vehicle must be delivered and put into service by December 31, 2022
- Vehicle must be used for business at least 50% of the time
- Vehicle may be new or used
Section 179 Vehicles for Sale in Maryland
Check out commercial GMC trucks to haul heavy loads or take a peek at a Buick luxury SUV for your passengers to ride in style. No matter what vehicle your business needs, we’re here to help you with a wide array of Section 179 vehicles in Frederick to choose from. Buy a new GMC or used Buick to get the most out of your Section 179 deduction. Shopping for Section 179 vehicles nearby has never been easier with our knowledgeable staff! Here are some of the vehicles that qualify for Section 179:
- GMC Sierra
- GMC Terrain
- GMC Yukon & GMC Yukon XL
- GMC Acadia
- GMC Savana Passenger, Cargo & Cutaway Vans
- Buick Encore
- Buick Encore GX
- Buick Envision
- Buick Enclave
GMC Dealership near Me
If a Buick Encore is on your list of possible company cars or you think a GMC Terrain will get the job done, we’re ready to help. Contact Ideal Buick GMC to schedule a visit and we’ll help you find a vehicle that qualifies for a Section 179 deduction. Take a GMC test-drive nearby and learn if the truck or SUV you’ve been eyeing can get a Section 179 tax deduction. Ideal Buick GMC in Frederick wants to help your business thrive!
1 See dealer for details.