Section 179 Tax Deduction in Abilene, TX
Texas businesses looking to upgrade their fleet vehicles can benefit significantly from the Section 179 tax deduction at Lawrence Hall Abilene Chevrolet. This tax incentive allows businesses to make the most of their vehicle purchases by deducting up to the full purchase cost directly from their taxable income. If you'd like to learn more about the Section 179 tax rebate, read on and schedule a visit at our Chevy dealership in Abilene!
How Section 179 Works
Section 179 provides a unique opportunity for businesses to deduct a substantial amount of money in a single tax year for business-related vehicles. The specifics of this tax deduction on new Chevy models and used vehicles include:
- Deduction Limit: Businesses can write off up to $2,500,000. 1
- Spending Cap: The spending limit on eligible equipment is $4,000,000. 1
- 2025 Bonus Depreciation: 100%1
- Allows for a significant immediate deduction on qualifying assets.
- Typically used after reaching the Spending Cap.
- Covers both new and used vehicle purchases.
- Eligibility: Must be acquired and operational by December 31, 2025.
Which Chevy Models Qualify for Section 179?
Many models from Chevy can qualify for the Section 179 tax deduction, including:
- Chevy Silverado 1500
- Chevy Silverado HD
- Chevy Tahoe
- Chevy Suburban
- Chevy Traverse
Visit us in Abilene to explore these models and discover which vehicle matches your company's needs!
Why Choose Lawrence Hall Abilene Chevrolet?
With years of experience serving the Abilene community, Lawrence Hall Abilene Chevrolet is dedicated to providing top-notch service. Our local collision center can assist with any repairs you need, and we have a great selection of Certified Pre-Owned vehicles for sale that are backed by great warranties. Not to mention we've been recognized as Abilene's Best New Car Dealer by Abilene Reporter News for over 20 years, so you can trust you'll get a great experience with us!
Schedule a test-drive with us and upgrade your fleet today!
Learn More:
1 Information accurate at date of publishing. Refer to https://www.section179.org for most up-to-date specifications.