Land Rover Section 179 Deduction near North Versailles, PA

Have you been looking to take your business to new heights by upgrading your fleet with stunning Land Rover models? You may be able to write off the costs with the Section 179 tax deduction! What's Section 179? It's a tax code created by the IRS to help small businesses invest in themselves by allowing them to write off up to 100% of the costs of qualifying vehicles used for company purposes.1 In order to claim the Section 179 tax incentive for the current tax year, all vehicles must be purchased and put into service by December 31, 2022 -- so hurry into our Land Rover dealership near North Versailles to get the car-shopping process started.

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What Are the Section 179 Deduction Limits for 2022?

While Section 179 is typically associated with commercial vehicles, it can also apply to other models that meet certain weight and design requirements. Many passenger vehicles are also available for partial deductions if used for business purposes at least 50% of the time. That means that you can apply the Section 179 tax deduction to the Land Rover SUVs on our lot! You can also apply the Section 179 tax incentive toward used vehicle purchases, so be sure to browse our pre-owned Range Rover inventory to see what we have in store. The 2022 Section 179 deductions for passenger vehicles are:

  • Cars: $11,160 (including Bonus Depreciation)1
  • Trucks & Vans: $11,560 (including Bonus Depreciation)1
  • Certain SUVs between 6,000-14,000 pounds: $25,000 (including Bonus Depreciation)1

Section 179 was created to primarily benefit small and medium businesses, rather than large corporations. Because of this, there are limits in place for how much each company can deduct per year. For 2022, the Section 179 limits are as follows:

  • 2022 Deduction Limit: $1,080,0001 -- valid on new and used equipment (must be new to the buyer).
  • 2022 Spending Cap: $2,700,0001 -- the max amount that can be spent on equipment before the Section 179 tax deduction begins to reduce on a dollar-for-dollar basis.
  • 2022 Bonus Depreciation: 100%1 -- generally taken after the Spending Cap is reached, valid on new and used equipment.
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