Section 179 Tax Break

Attention Business Owners

Expense Up To 100% Purchase Price On Your Next Commercial Vehicle Purchase

Does your business near Sparta Twp need vehicles to operate? Luckily, you might be able to use the Section 179 Tax Break to save on the full or partial costs of qualifying vehicles! Keep on reading to find out more about what this deduction includes and which vehicles are part of this deduction from Sussex Honda. Let’s grow your business today!

Section 179 Tax Break: Vehicle & Equipment Qualifications

Let us break down the qualifications that this tax deduction requires:

• Vehicles with a seating capacity of at least 9 passengers
• Vehicles with a fully-enclosed driver’s compartment/cargo area without seating behind the driver’s seat or a body section extending 30 inches past the windshield, such as a classic cargo van 

If you want to buy a passenger Honda truck or SUV instead of a commercial vehicle, your purchase may still be eligible as long as the vehicles are used for business purposes at least 50% of the time. However, if they are never used for business purposes, then their depreciation limits will be reduced by a corresponding amount. You should know that the full Section 179 expense deduction with Bonus Depreciation is maxed at $11,160 for cars and $11,560 for vans and trucks. A few exceptions include:

• Heavy, non-SUV vehicles that have a cargo area with a minimum length of 6 feet 
• Taxis and other transportation vehicles
• Hearses and ambulances
• Select vehicles that have been customized for business purposes

Sussex Honda always have leasing and financing specials for new vehicles and specials for pre-owned vehicles if the specific car you want in the Newton area isn’t covered by this tax break! 

If you’re unsure if a particular model qualifies, just reach out to us!