Are You Eligible to Save on a Volvo XC90 with the Section 179 Tax Incentive?




 

If you own a business and need a luxury vehicle for your work, then it is possible to take advantage of Section 179 Deductions for a Volvo XC90. Section 179 Deductions are meant to help small to medium companies grow and invest in themselves by allowing them to write off the entire cost of qualifying equipment for the current tax year. Luckily for businesses in Canton, the new XC90 qualifies as equipment under this section.

Learn more about if you and your business qualify and the benefits of this tax incentive.

 

What is the Section 179 Deduction?

Section 179 is an IRS tax code that allows businesses to deduct the full purchase price of qualifying equipment finance during the tax year. If you buy or lease qualifying equipment, you can deduct the total purchase price from your gross income. If your business qualifies and the right SUV is used correctly, you could potentially save thousands by using this incentive to purchase business-use vehicles.

Instead of paying off a little of the equipment's cost through depreciation over time, small businesses can write off the entire cost of qualifying equipment for their tax return.

Who Qualifies for Section 179?

All businesses that purchase, finance, or lease new or used business equipment during the tax year should qualify. Only companies that spend more than $3,500,000 may not be eligible.

Vehicles with a gross vehicle weight rating over 6,000 pounds qualify for up to $25,000 if the vehicle is purchased and placed in service before December 31 and meets other conditions. The vehicle must be used at least 50-percent of the time for business, and the corresponding percent of personal use reduces the depreciation limits if the vehicle is used for business less than 100-percent of the time.

Save On a Volvo XC90 with Section 179 Deductions

We have Volvo XC90 SUVs that are over 6,000 pounds on our lot, making them eligible for the Section 179 Deductions. If it is important to your business to have a reliable SUV, then you can impress others with the upscale Scandinavian luxury that comes with the XC90 while saving up to $25,000.

Speak with your account to find out if you qualify and browse our new Volvo XC90 inventory to find the right match for your business. If you have questions about the gross vehicle weight rating of a particular XC90, our sales team would be happy to help!

Categories: Finance, New Inventory
; ;