Section 179 Deduction - Write Off 100% of The Purchase Price of Eligible Vehicles*
Select Chevrolet Blazer, Express Cargo Van, Express Commercial Cutaway, Express Passenger, Low Cab Forward, Silverado 1500, Silverado 1500 LD, Silverado 2500HD, Silverado 3500HD, Silverado 3500HD CC, Silverado Chassis Cab, Suburban, Tahoe, Traverse
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Now, under new tax depreciation laws, your business may be eligible to immediately deduct up to 100% of the purchase price of an unlimited number of qualifying Chevy vehicles purchased in 2019 for business use.
Silverado Chassis Cab
Express Cargo Van
Express Passenger Van
Low Cab Forward
*SECTION 179 DEDUCTION
1. Each individual's tax situation is unique; therefore, please consult your tax professional to confirm vehicle depreciation deduction and tax benefits. For more details, visit IRS.gov
2. For vehicles that qualify as passenger automobiles under the Internal Revenue Code, there is a $3,160 per-vehicle depreciation deduction cap or $3,460 for certain SUVs, trucks, and vans placed in service during 2019.
3. For vehicles that qualify as sport utility vehicles, including certain trucks and vans, under the Internal Revenue Code, the maximum amount that may be expensed is $25,000 of the total purchase price. The $25,000 expense cap contributes to the $500,000 dollar limit and $2,000,000 investment limit under Section 179.
4. The tax incentives are available for depreciable tangible property that is acquired by purchase for use in the active conduct of a trade or business. Additional limitation based on purchases. For the 2018 tax year, the aggregate deduction of $500,000 under Internal Revenue Code Section 179 is most beneficial to small businesses that place in service no more than $2,000,000 of "Section 179 property" during the year. For every dollar spent on Section 179 property in excess of the overall limit of $2,000,000, the $500,000 expense tax deduction decreases by a dollar. Certain vehicles, models, and restrictions apply. Consult your tax professional for details.