With 2024 being ushered in, those who drive their vehicle for business will find they can utilize available tax savings. One is Section 179, which applies to work trucks and vans, either new or pre-owned. Here at Luke Fruia Motors, we're happy to discuss these options and let you know the eligibility guidelines for Section 179 so you can learn if your vehicle purchase in the last year applies.
For those who apply and get a work truck or van, Section 179 offers the possibility of writing off the purchase under its guidelines. If you're using your vehicle for business purposes over 50 percent of the time, and it meets standards like seating for nine or more passenger options or cargo vans without rear seats, work trucks, and large construction vehicles, you may be eligible. It can provide substantial savings, help you grow your fleet, and move your business. Other guidelines include weight standards from 6,000 to 14,000 pounds, and you cannot use the standard mileage deduction for work vehicles or Section 179 together.
This applies to new and used vehicles for work purposes like the trades or other industries that are prominent around Brownsville, Harlingen, and Port Isabel, including ranching and farming. It does not apply to rideshare or delivery app services like Uber, Lyft, or DoorDash, as those are classified under a different tax deduction for work purposes.
You can find work trucks and vans at our dealership, with many pre-owned options from leading brands that can apply for Section 179 savings. We're here to help you not only find the right vehicle, but provide you with assistance when filing for the current tax year if you made a work vehicle purchase.
To learn more, contact us here at our dealership, which provides those in San Benito, Los Fresnos, and Rancho Viejo with quality new cars and SUVs so you can learn more about Section 179 and the savings available to you.
