Section 179 Tax Deduction Near Apopka, FL
Section 179 Tax Deduction Near Apopka, FL
Are you a business owner in Apopka looking to expand your fleet while taking advantage of tax savings? If so, the Section 179 tax deduction is tailored just for you.
Established by the IRS, Section 179 enables businesses to acquire new or used assets with favorable tax deductions. It allows you to deduct up to 100% of the purchase price of qualifying vehicles in the year they’re acquired and put into service. This is far more beneficial than conventional depreciation methods, providing significant tax relief.1
To qualify under the 2024 Section 179 rules, these vehicles need to be purchased and operational by December 31, 2024.1 At Don Mealey Chevrolet near Apopka, our team can provide detailed insights as you explore our selection of Chevy commercial trucks and vans. Start leveraging Section 179 deductions today!
What Are the 2024 Section 179 Tax Deduction Limits?
Eligible businesses can use Section 179 to offset costs associated with purchasing qualifying commercial vehicles in Florida. Section 179 deduction limits, spending caps and bonus depreciation for 2024 include:
- 2024 Deduction Limit: $1,220,0001
- Valid on new and used equipment (must be new to buyer) — can be purchased or leased
- 2024 Spending Cap: $3,050,0001
- After this cap is reached, deduction is reduced on dollar-for-dollar basis
- 2024 Bonus Depreciation: 60%1
- Generally taken after Spending Cap is reached
- Applicable to new and used vehicles
- Allows a business to immediately deduct a large percentage of the purchase price of eligible assets
Which Chevy Models Qualify for Section 179?
Eligible businesses can use Section 179 to offset costs associated with purchasing qualifying commercial vehicles in Florida. Section 179 deduction limits, spending caps and bonus depreciation for 2024 include:
- 2024 Deduction Limit: $1,220,0001
- Valid on new and used equipment (must be new to buyer) — can be purchased or leased
- 2024 Spending Cap: $3,050,0001
- After this cap is reached, deduction is reduced on dollar-for-dollar basis
- 2024 Bonus Depreciation: 60%1
- Generally taken after Spending Cap is reached
- Applicable to new and used vehicles
- Allows a business to immediately deduct a large percentage of the purchase price of eligible assets
Which Chevy Models Qualify for Section 179?
Interested in adding a new Chevy to your business operations? We have an array of new and used commercial Chevy trucks and other vehicles eligible for Section 179 benefits near Apopka. These models include:
- Up to 100% of purchase price (no per-vehicle or aggregate limitation) 1
- Express Cargo Van
- Express Cutaway
- Express Passenger Van
- Low Cab Forward
- Silverado 1500
- Silverado 2500 HD
- Silverado 3500 HD
- Silverado 4500 HD
- Silverado 5500 HD
- Silverado 6500 HD
- Silverado HD Chassis Cabs
- Up to $25,000 plus up to 80% of the remaining purchase price (plus standard depreciation deduction) 1
- Blazer
- Colorado
- Express Passenger Van
- Silverado 1500
- Suburban
- Tahoe
- Traverse
- Up to $20,200 per vehicle (no aggregate limitation)1
- Bolt EV
- Bolt EUV
- Camaro
- Colorado
- Corvette
- Equinox
- Malibu
- Trailblazer
Buy Chevy Commercial Vehicles in Clermont, FL
Ready to enhance your fleet with top-tier commercial vehicles or need more information on how Section 179 can benefit your business vehicle purchases? Contact Don Mealey Chevrolet — we’re eager to help business owners in Apopka and the surrounding areas understand and utilize these tax-saving opportunities. Visit today to take advantage of Section 179 benefits and expand your business fleet efficiently!
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1Information accurate as of publishing date. We are not accountants and are not offering financial advice. Please consult an accountant for further information or visit https://www.section179.org to review the latest details regarding Section 179 rules, caps and limitations.
