Do Used Chevrolet Cars Qualify for Section 179?

If youre a small business owner looking to control expenses, you should take advantage of Section 179. Read more about this deduction opportunity below, then visit Lester Glenn Chevrolet to find the perfect

used Chevrolet

vehicle for your business!

What Is Section 179?

Section 179 is a tax deduction available for self-employed people. It allows you to deduct the cost of work-related property from your income. This usually includes computers, supplies, furniture, and even your car. Used cars are as eligible for this deduction as new cars, but you should discuss the qualifications with your tax professional.

Light, Heavy, and Other

The IRS puts vehicles into three categories: Light, Heavy, and Other. Light vehicles, which have a gross weight of under 6,000 pounds, can deduct up to $12,200 during their first year of use. Heavy vehicles weighing between 6,000 and 14,000 pounds are eligible for a deduction of up to $28,900. Vehicles marked as Other, which includes vehicles over 14,000 pounds or any vehicle modified for business use, like a shuttle van, have no deduction limit. This lets you deduct 100 percent of the vehicles cost.

How Much Personal Use is Acceptable?

The full Section 179 deduction can only be used on vehicles 100 percent used for business purposes. However, you can take a partial deduction as long as it is used more than 50 percent of the time for business purposes. A tax professional can walk you through accounting for combined business and personal use.

Find Your Next Work Car at Lester Glenn Chevrolet

So there you have it: used cars often qualify for Section 179 deductions, saving you money if the vehicle is used entirely or primarily for work. Visit

Lester Glenn Chevrolet

, your Toms River Chevrolet dealership, to find your companys next vehicle today!

The preceding should not be construed as tax advice; much like you wouldnt ask an accountant to fix your transmission, tax matters should be discussed with your tax professional.

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