Tag: section

The Shocking Tax Benefits Of Section 179

Hi Wayne: What can you tell me about Section 179? I own a small business and have heard that I can obtain a substantial tax benefit by purchasing a new vehicle. I was told that to obtain the most benefit I should purchase a vehicle with at least 6000 lb. Gross Vehicle Weight. How much benefit could I expect and do I have to maintain ownership for any specific length of time? If I purchase late in the year can I still utilize the deduction? Is there anything I should be aware of that could bite me if I’m not careful?

Vehicle Deductions And Section 179

What can you tell me about Section 179. I own a small business and have heard that I can obtain a substantial tax benefit by purchasing a new vehicle. I was told that to obtain the most benefit I should purchase a vehicle with at least 6000 lb. Gross Vehicle Weight. How much benefit could I expect and do I have to maintain ownership for any specific length of time? If I purchase late in the year can I still utilize the deduction? Is there anything I should be aware of that could bite me if I’m not careful?

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