Take Advantage of Section 179 Savings
Valuable tax deduction can help lower your annual taxes and invest in your business.
Section 179 allows a business to deduct the full purchase price of qualifying equipment purchased or financed during the tax year. This federal tax deduction works especially well with commercial TRAC leases (where mileage, residuals, and wear and tear are adaptable).
Purchase a truck before the year ends to take advantage of these substantial savings:
- – 2020 Deduction Limit: $1,040,000
- – Spending Cap on Equipment Purchases: $2,590,000
- – Bonus Depreciation: 100% for 2020
Learn more about this tax deduction from the official Section 179 website.
NOTE: Check with your financial advisor to see if you qualify for the Section 179 deduction.