Vans that deliver,even a huge tax break. Section 179 of the I.R.S. tax code offers significant deductions on qualifying business vehicles.


What business vehicles may qualify?

You may qualify if you:

  • Are a business that purchased or financed qualifying new or used business equipment, including certain business-use vehicles, during the 2022 tax year.
  • Put the equipment into service between January 1,2022,and December 31,2022.
  • Used this equipment for business purposes more than 50% of the time.
  • Spent less than $3,780,000 on this equipment.

How much could I deduct?

These are the limits:

  • You cannot write off more than $1,080,000.
  • The total amount of the equipment purchase cannot be more than $2,700,000. It phases out dollar-for-dollar after that, so once $3,780,000 is spent, the deduction goes away entirely.

Section 179 highlights

Our service contracts allow you to drive with confidence with parts and labor fully covered for up to 4 years.

  • Section 179 allows qualifying businesses to deduct up to the full purchase price of certain new or used vehicles, equipment and/or software purchased and placed into service during the tax year.
  • To qualify, the percentage of business use for the vehicle, equipment or software must be more than 50%.

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