SECTION 179 TAX SAVINGS
Ewald Chevrolet Buick - Serving Oconomowoc, WI
BIG VALUE FOR SMALL BUSINESS.
EARN 2020 TAX DEDUCTIONS UP TO A TOTAL OF $510,000.1
We take pride in giving you the best value on new Chevrolet vehicles your business depends on. With the 2020 tax incentives, you could be eligible for up to a total of $510,000 in tax deductions when you purchase qualifying Chevrolet vehicles for your business before 12/31/2020. You can stack select business Choice offers and other incentives to get an even bigger haul.
NEW-VEHICLE DEDUCTION ELIGIBILITY
There are some limitations to the expense deduction, including vehicle eligibility.1
Up to $11,160 Total deduction per vehicle2
Up to $11,560 Total deduction per vehicle2
Up to $25,000 Total deduction per vehicle2
Up to $510,000 Total deduction per vehicle2
1. Each individual’s tax situation is unique; therefore, please consult your tax professional to con rm vehicle depreciation deduction and tax bene ts. For more details, visit irs.gov. 2. For vehicles that qualify as passenger automobiles under the Internal Revenue Code, there is an $11,560 per-vehicle depreciation deduction cap for certain SUVs, trucks and vans placed in service during 2020. 3. For vehicles that qualify as sport utility vehicles, including certain trucks and vans, under the Internal Revenue Code, the maximum amount that may be expensed is $25,000 of the total purchase price. The $25,000 expense cap contributes to the $510,000 dollar limit and $2,030,000 investment limit under Section 179. 4. The tax incentives are available for depreciable tangible property that is acquired by purchase for use in the active conduct of a trade or business. Additional limitation based on purchases. For the 2020 tax year, the aggregate deduction of $510,000 under Internal Revenue Code Section 179 is most bene cial to small businesses that place in service no more than $2,030,000 of “Section 179 property” during the year. For every dollar spent on Section 179 property in excess of the overall limit of $2,030,000, the $510,000 expense-tax deduction decreases by a dollar. Certain vehicles, models and restrictions apply. Consult your tax professional for details. ©2020 General Motors LLC.
GIVE YOUR BUSINESS EVERY TAX BREAK YOU DESERVE.
Now is a great time to consider a new Chevy for your business. You’ll not only nd in-stock Chevy work vehicles to manage your jobsite, but valuable offers to help manage your budget.
Plus, with the 2020 tax incentives, you could be eligible for up to $510,000 in tax deductions when you purchase qualifying Chevy vehicles for your business before December 31, 2020. You can stack select Business Choice offers and other small-business incentives for even greater value.
Come in today and give your business every tax break you deserve with a new Chevy!
1. See GM New Vehicle Deduction Eligibility panel for more details