Mercedes-Benz Section 179 Tax Savings near Westfield, NJ
What Are the 2022 Section 179 Deduction Limits?
Are you asking yourself, “How can I qualify for Section 179 tax savings?” Our local Mercedes-Benz dealer has the answers you’re looking for. When you buy a new Mercedes-Benz or used commercial vehicle any time during the 2022 tax year, you’ll be eligible to claim the Section 179 tax deduction. It’s important to note that the vehicle needs to be used for business purposes at least 50% of the time and put into service by end of day on December 31, 2022, in order for you to qualify to save on your taxes. The 2022 Section 179 Deduction limits are as follows:
- 2022 Deduction Limit: $1,080,0001 — valid on new and used equipment (must be new to the buyer)
- 2022 Spending Cap: $2,700,0001 — the max amount that can be spent on equipment before the Section 179 Tax Deduction begins to reduce on a dollar-for-dollar basis.
- 2022 Bonus Depreciation: 100%1 — generally taken after the Spending Cap is reached, valid on new and used equipment.
Businesses can write off up to 100% of expenses for qualifying vehicles with the Section 179 tax deduction. Passenger vehicle Section 179 deductions include:
- Cars: $11,160 (including Bonus Depreciation)1
- Trucks & Vans: $11,560 (including Bonus Depreciation)1
- Certain SUVs between 6,000-14,000 pounds: $25,000 (including Bonus Depreciation)1
Which Mercedes-Benz Vehicles Qualify for Section 179 Savings?
If you want to buy a luxurious and spacious Mercedes-Benz Sprinter commercial van near Westfield, then you’ll be happy to hear about the Section 179 tax savings it might come with. Please contact Mercedes-Benz of Union to schedule a test-drive or ask any questions you may have. New 2022 Mercedes-Benz Sprinter models eligible for Section 179 savings include:
- Mercedes-Benz Sprinter
- Mercedes-Benz Sprinter 2500
- Mercedes-Benz Sprinter 3500 XD
- Mercedes-Benz Metris
Used and Certified Pre-Owned vehicles also qualify for these savings, what’s important is that it’s new to you. So, hurry over to our Union Mercedes-Benz dealership to view our pre-owned commercial vehicle inventory. We look forward to meeting with you and helping your grow your business!
1 See dealer for details.