Section 179 is a deduction created by the U.S. government to help businesses invest in them. It allows businesses to write off the full price of a device used for business purposes as long as it is in use by the end of December 31, 2021. Many Massachusetts businesses have been able to use the Section 179 tax credit to save money when they purchase vehicles such as vans, work trucks and other cars.
Which vehicles are compliant with Article 179?
The new Cadillac Escalade ESV or Escalade SUV can make a huge difference to your everyday life. Between powerful drivetrain features and luxurious Cadillac Escalade interior amenities, the new Cadillac SUV is the perfect fit for your business needs.
Plus, when you take advantage of the Section 179 for Cadillac Escalade tax credit, you can finish the fiscal year stronger than ever before. Just know that your new Cadillac Escalade must be in business at least 50% of the time to qualify for the Section 179 deduction.
Whether you buy a new or used Cadillac in Rain ham, Massachusetts, it qualifies for the Section 179 tax deduction.
It is important that the vehicle is new to you. In order to qualify, the vehicle must be a classic van with no seat behind the driver’s seat, or a passenger car that can accommodate nine or more passengers behind the driver. Other Cadillac SUVs and sedans are eligible for Section 179 fees as long as they are in business more than 50 percent of the time.
Some of the Cadillac models eligible for Section 179 savings include:
- Cadillac Escalade
- Cadillac XT6
- Cadillac XT4
- Cadillac XT5
How does Section 179 work?
New and used Cadillac models purchased or leased during the 2021 tax year are eligible for Section 179 tax relief. This allows you to write off the full purchase price of the vehicle in the same tax year in which the vehicle was purchased. If the vehicle is not 100% used for business purposes, the amount you can deduct will be affected. If you have questions about using the online Section 179 calculator or would like more information on Section 179 tax savings. The Section 179 deduction limits for 2021 are as follows:
- Auto $11,160 including bonus depreciation
- Trucks and vans $11,560 including bonus depreciation
- Certain SUVs with gross vehicle weight ratings between 6,000 and 14,000 pounds are eligible for a deduction of up to $25,000, including bonus depreciation
Is your Cadillac tax deductible?
Buying a vehicle has many advantages, from the positive vibe of a new car to the newer technology you can take advantage of. Another common advantage is that we get tax deductions for car purchases. This benefit comes in many forms, the Cadillac Escalade Section 179 Tax Credit Incentive and the Small Business Owner Vehicle Tax Credit. Both can help businesses earn rebates from previous year’s car purchases and can easily reinvest in your business.
The IRS allows corporate owners to claim a Section 179 deduction of up to $1,040,000* at the end of the year for the purchase of a new or used car. Small businesses can also deduct a significant portion* of your Cadillac purchase price thanks to new tax depreciation laws*. Use the Section 179 tax credit or small business vehicle depreciation tax credit by buying from Linus Cadillac before the end of the year, or by talking to a sales professional to see if your previous purchases qualify.
Huge tax savings
Add Cadillac models to your commercial fleet and enhance your business profile with this luxury brand recognition. These benefits carry over to the financial side through these two beneficial tax deductions. By using a Cadillac model for business purposes more than 50% of the time; you are eligible for Section 179 tax relief incentives. A 100% depreciation bonus can be added to this tax deduction. For the Cadillac CT4, Cadillac CT5 and Cadillac XT5, earn up to $18,100 in small commercial vehicle depreciation tax credits per Cadillac model. If you buy a Cadillac XT5, Cadillac XT6, Cadillac Escalade or Cadillac Escalade ESV, you can get even higher rebates — up to 100% of the purchase price.
Choosing a Cadillac for a Commercial Model
Upgrade your commercial lineup with top-of-the-line Cadillac models that deliver incredible performance and high-quality comfort. Buying before the end of the year will make you eligible for Section 179 tax credits and small commercial vehicle depreciation rebates. Visit Linus Cadillac today to choose a Cadillac for your business.