The Section 179 tax code is a deduction created by the U.S. government to help businesses invest in themselves. It allows a business to write off up to the full price of equipment that's used for business purposes, so long as it's put into service by end of day on December 31, 2021. Many Massachusetts businesses have been able to use the Section 179 tax deduction to save when they purchase vehicles such as cargo vans, work trucks and other cars. Learn more about the Cadillac Section 179 tax write-off, then stop by our Cadillac dealership near Fall River, MA, to buy a luxurious new vehicle for your local business.
Whether you buy a new or used Cadillac in Raynham, MA, it'll qualify for the Section 179 tax deduction. What's important is that the vehicle is new to you. In order to qualify, a vehicle must either be a classic cargo van with no seating behind the driver's seat, or a passenger van that can seat nine or more passengers behind the driver. Other Cadillac SUVs and sedans can be eligible for the Section 179 expense so long as they're used for business more than 50% of the time.
Some Cadillac models that can be eligible for Section 179 savings include:
New and used Cadillac models purchased or leased during the 2021 tax year are eligible for the Section 179 tax deduction. This allows you to write off up to the full purchase price of the vehicle for the same tax year it was purchased. If a vehicle isn't used for business purposes 100% of the time, the amount you can deduct will be affected. If you have questions about using an online Section 179 calculator or want to learn more about Section 179 tax savings, don't hesitate to contact Mastria Cadillac.
The Section 179 deduction limits for 2021 are as follows: