Section 179 Tax Deduction near Nashville, TN
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Have you been thinking about acquiring a vehicle for your small business? If so, now is the perfect time to shop the selection at our Nissan dealership near Nashville, TN. That’s because end-of-the-year taxes are due soon, and we don’t want you to miss the opportunity for savings. When you buy or lease a Nissan that will be used for business purposes at least 50% of the time, you can apply for a Section 179 Tax Deduction. Learn more about this deduction, then visit Nissan of Rivergate!
Depending on if you opt for a Nissan sedan, Nissan SUV or commercial Nissan model, you will be entitled to different deductions. The total deduction for depreciation for Section 179 expense deduction and Bonus Depreciation is capped at $11,060 for cars like the new Nissan Altima and $11,160 for trucks and vans such as a new Nissan Titan or a new Nissan NV Cargo Van. Whichever vehicle you choose must be used for business 50% of the time or more to qualify for this special tax break. If you choose to use it for personal matters a certain percentage of the time, your depreciation limits will be reduced accordingly.
More Section 179 guidelines include:
You are not eligible for the Section 179 Tax Deduction if you’re switching the vehicle you already own from personal to business use.
Both new and used Nissan models are eligible! As long as the vehicle you buy is new to you in 2017, you can apply for the tax deduction.
Section 179 may apply to Nissan commercial vehicles such as the 2017 Nissan NV Cargo Van 2017 Nissan NV200 Passenger Van and 2017 Nissan NV200 Taxi. See the Section 179 Vehicle Deduction website for more information about large vehicles.
In order to claim the deduction, your business vehicle has to be “placed in service,” or registered and ready for use, during 2017.
Whether you lease, finance or buy your Nissan outright, you may be eligible for Section 179.
The team at Nissan of Rivergate is ready to show you around our new and used Nissan inventories to ensure you find the ideal vehicle for your company. Feel free to discuss the Section 179 Deduction with our Nissan financing experts, as well!
Enjoy the perks of the Section 179 Tax Code today!