Elevate your business with smart investments through The Niello Company. Discover how the Section 179 tax incentive can contribute to your company's growth and success. At our luxury car dealerships near Rocklin, we’re poised to assist business owners in maximizing their potential tax deductions when investing in high-quality vehicles for their commercial fleet. Visit us today to get started!
Understanding the Section 179 Tax Deduction
Our goal is to help you understand and capitalize on the Section 179 deduction in California. Here's what you need to know:1
- Purchase Deadline: Ensure your vehicle is delivered and in service by December 31, 2023.
- UsageRestrictions: Utilize the vehicle for business purposes at least 50% of the time.
- Vehicle Condition: Both new and pre-owned vehicles qualify. As long as the vehicle is new to you, it qualifies.
- Registration & Ownership: The vehicle needs to be registered in the name of your business.
The 2023 deduction limits are as outlined below:1
- 2023 Deduction Cap: Take advantage of up to $1,160,000 on new and pre-owned equipment.
- Bonus Depreciation: Benefit from 80% bonus depreciation for both new and pre-owned equipment.
- Vehicle Weight Classes: Receive up to $20,200 for qualifying cars, trucks and vans under 6,000 pounds. Receive up to $28,900 for qualifying pickups and SUVs weighing between 6,000 and 14,000 pounds.
Select Your Section 179 Vehicle at The Niello Company
For businesses in search of a used or new luxury vehicle, our nearby car dealerships stand ready to help. Explore our curated selection of luxury vehicles eligible for the Section 179 deduction, each perfect for various company roles and purposes. Our knowledgeable staff will guide you through the available models from leading brands like Volvo and Porsche and ensure you find the ideal match for your business needs.
Your Premier Luxury Car Dealer Near Rocklin
If you’re interested in a luxury vehicle and want to know if it's eligible for the Section 179 tax break, visit us for a test-drive. Contact The Niello Company to gain more insights and step into an elegant SUV, EV or sedan deserving of your business. We are eager to assist you in purchasing a new BMW or pre-owned Audi that qualifies for valuable Section 179 incentives!
1Information accurate at time of publication. See dealer for details.
