Did you know that if you buy trucks for sale with a Gross Vehicle Weight Rating (GVWR) of over 6,000 pounds and use it for business, you can write off at least $25,000 from your taxable income? It doesn’t even matter if the truck is new or used, it’s possible for you to still get a hefty tax deduction from it.
If you own a new or pre-owned pickup that fall under the “heavy” category and use it for business over 50 percent of the time, you are eligible for the Section 179 tax deduction of the IRS tax code enacted by Stimulus Acts. Generally speaking, equipment purchased by a business can be written off as depreciation over several years. The tax code’s Section 179 permits equipment cost to be deducted as a business expense the same year the equipment was bought. Here’s what you need to know about the benefits of this type of tax break. Read more from this article: http://bit.ly/2hBxHrw
No comments:
Post a Comment