Buick & GMC Section 179 Tax Deduction Near Kenner, LA
When it comes to expanding your business's fleet of vehicles, there's no better opportunity than the Section 179 tax deduction. This exclusive tax code, aimed at small- and medium-sized businesses, allows the partial or entire write-off of a vehicle's purchase price from the company's annual taxes. This provides an incredible pathway to enhancing your business operations with a new Buick SUV or GMC truck perfectly suited to your enterprise.
From powerful Sierra trucks to accommodating Envision SUVs and more, our Buick and GMC dealership near Kenner has tons of great options for your business. But don't wait too long – you must get your vehicle placed into service by December 31, 2024, to be eligible!1
2024 Section 179 Tax Incentive Limits & Bonus Depreciation
Do you run a small- or medium-sized business? The Section 179 tax deduction is meant for you, allowing you to deduct either a partial or full percentage of eligible vehicles' purchase prices from your business taxes. Please pay attention to the limits on spending and bonus depreciation percentage for this year:
2024 Deduction Limit: $1,220,0001
- Valid on new and used equipment (must be new to buyer) -- can be purchased or leased
2024 Spending Cap: $3,050,0001
- After this cap is reached, deduction is reduced on dollar-for-dollar basis
2024 Bonus Depreciation: 60%1
- Generally taken after Spending Cap is reached
- Applicable to new and used vehicles
- Tax incentive that allows a business to immediately deduct a large percentage of the purchase price of eligible assets
Remember that you must purchase and place your eligible vehicle into service no later than December 31, 2024, to qualify for Section 179.1 Don't hesitate to ask our Harvey GM financing specialists any questions.
Which Buick & GMC Models Qualify for Section 179?
| Up to 100% of Purchase Price1 | Up to $25,000 (Plus up to 80% of the remaining purchase price plus standard depreciation deduction)1 |
Up to $20,2001 |
|---|---|---|
| GMC Sierra 1500/2500/3500 - Standard & Long Bed | GMC Sierra 1500 - Short Bed | GMC Terrain |
| GMC Sierra 3500 HD Chassis Cab | GMC Yukon | Buick Encore GX |
| GMC Savana Cargo Van | GMC Yukon XL | Buick Envision |
| GMC Savana Passenger Van (10+ passenger seating only) | GMC Acadia | Buick Envision Avenir |
| GMC Savana Cutaway | HUMMER EV Pickup | |
| HUMMER EV SUV | ||
| GMC Canyon | ||
| GMC Savana Passenger Van (all except 10+ passenger seating) | ||
| Buick Enclave | ||
| Buick Enclave Avenir |
Commercial GMC Vehicles Near Me
For any questions about eligible Buick models or HD GMC truck incentives, contact Legacy WestBank Buick GMC in Harvey. No matter your type of business or the vehicle you require, the Section 179 tax deduction is your ticket to not only an amazing value, but a more efficient and streamlined operation!
Learn More: New Vehicle Specials | Buy a Car Online
1 Information accurate as of publishing date. Please consult https://www.section179.org for the most up-to-date details.