Mercedes-Benz Section 179 Tax Deduction
The right time to enlist a Mercedes-Benz van in your business's fleet is now. Not only does our Mercedes-Benz dealership near Westfield boast new Sprinter vans for sale, but we can pair you with the Section 179 tax incentive for incredible savings on the commercial vehicle your company requires. What is Section 179, exactly? It's a tax credit developed by the U.S. government to help small- and medium-sized businesses save on operating expenses, particularly vehicle costs.1
Under Section 179, you can write off up to 100% of the purchase price of an eligible vehicle from your business's end-of-year taxes.1 You must put your vehicle into service by December 31, 2024, to qualify, though, so stop in soon before it's too late!1
2024 Section 179 Tax Deduction Limits & Eligibility
As the Section 179 tax deduction is aimed to benefit small- to medium-sized businesses, there are strict criteria that must be met. The 2024 Section 179 tax savings qualifications include:
- 2024 Deduction Limit: $1,160,000 -- applies to new and used equipment (must be new to the buyer).
- 2024 Bonus Depreciation: 80% -- valid for new and used equipment.
- Passenger vehicles (such as pickups or heavy SUVs) weighing between 6,000 and 14,000 pounds can achieve a maximum first-year deduction of up to $28,900 in 2024.1
Which Mercedes-Benz Models Qualify for Section 179?
The Section 179 tax incentive offers savings on new Mercedes-Benz vans in Union designed for commercial use, like the Sprinter. Sprinter models that qualify for Section 179 include:
- Mercedes-Benz Sprinter Cargo Van
- Mercedes-Benz Sprinter Crew Van
- Mercedes-Benz Sprinter Passenger Van
Mercedes-Benz Commercial Vans Near Me
For more information about Mercedes-Benz vehicles that qualify for tax savings, contact Mercedes-Benz of Union. No matter the type of new Sprinter van that'd be best for your business's operations, we're here to answer all your questions and get you the keys in no time. Take advantage of the Section 179 tax deduction in New Jersey for exceptional savings on a commercial Mercedes-Benz.
1 Information accurate at the time of publishing. Refer to https://www.section179.org for the most current specifics.