2018 Tax Deductions with IRS Section 179 – Lexington, KY
100% Tax Incentive
Are you looking to invest in a new vehicle for your small business? Are you interested in receiving money back on that purchase? Glenn’s Freedom Chrysler Dodge Jeep Ram in Lexington, KY has just the plan for you! You, the American taxpayer, courtesy of the IRS, are eligible to receive money back on up to $1 million of your investment. With IRS Section 179, small business owners purchasing new vehicles or equipment can deduct the full cost of that purchase the following tax season. At 100%, that’s a huge deduction. What’s more is that we’re talking lump sum savings here! That’s right. The full cost of your new vehicle purchase goes back into your pocket, all at once.
In other words, this is a huge tax incentive for small business owners. If you were holding back on making a vehicle purchase, making sure you had the best deal or waiting for better economic weather, now could be the perfect time to go ahead and make the investment and bring home a new vehicle. At the end of the day, you’re not onlysetting yourself and your small business up with a long term vehicle investment. You’re also reducing the cost of that vehicle with a nifty tax article and keeping money in your pocket. It’s a consumer’s win-win, and that’s why Glenn’s Freedom Chrysler Dodge Jeep Ram in Lexington is telling you about it!
What Are Your Savings?
Are you curious just how much your actually saving under Article 179? We’ve mentioned it’s 100% savings, but you know that doesn’t mean free. After all, we’re talking a tax deduction, and no matter how large a deduction, it isn’t 100% savings. Everyone knows money isn’t free, but that doesn’t mean that you’re not doing yourself a huge favor by filing this deduction. It’s about as close to free as you can. In fact, once you see your actual savings, you’ll be thankful you invested in your new vehicle vehicle.
Let’s do the math on this great tax break. Before we figure out your actual cost, let’s take a look at your tax burden. Let’s assume yours is the average at around 15% of your total income. A new vehicle, such as a Transit Cargo Van, will run you $35,355. Since we’re deducting this entire cost from your tax burden, we’ll multiply 15% into the entire $35,355. That comes out to a deduction of $5,303.25. We’ll subtract that from your initial total cost, and that gives a much nicer looking total cost of $30,051.75 on your brand new vehicle.
Incentives For Business Owners
The point of this tax incentive isn’t just to save small business owners money on big purchases. It’s bigger than that! By providing small business owners, like you, lump sum savings through an uncanny 100% tax deduction, the future of your financial stability can look a lot brighter. Your savings in the long run are based on your willingness to spend now on a bigger investment! Remember this deduction goes all the way up to $1 million. That’s huge potential savings. These big purchase savings allow you as a business owner to invest in your future. The same way that extra cash floating around stimulates the economy, it can stimulate your business.
You walk away with new commercial vehicles and have money to reinvest back into your business. Article 179 is such a valuable deduction to know about and use for this reason. In other words, it’s not just about the savings it provides you, it’s about the options it ensures you will have – options that allows you to reinvest and grow your small business in Lexington, KY!
Take Advantage of This Tax Break
Make sure you’ve purchased your vehicle before December 31, 2018! Half of the time the vehicle is in use before then should be work related, as well. Meet both of those requirements in order to take advantage of Section 179’s 100% tax deduction!
Ready to look at some CDJR fleet & commercial options? Glenn’s Freedom Chrysler Dodge Jeep Ram is located at 1560 E New Circle Rd, Lexington, KY 40509. Come by our showroom or search our inventory and purchase your new vehicle!