Section 179 Tax Exemption
Section 179 of the IRS tax code allows businesses to deduct the price of qualifying equipment, such as vehicles, purchased or financed during the tax year. A Porsche Cayenne from Rusnak/Pasadena Porsche is an ideal addition to your business, and thanks to Section 179, you may qualify for a sizeable tax write-off on your new Cayenne.
| 2019 Tax Year | |
|---|---|
| Section 179 Overall Limit | $1,000,000 |
| Section 179 Limit For SUV's | $25,000 |
| Bonus Depreciation | 100% |
| Additional 280f Depreciation (first year depreciation) | N/A |
| Qualifying Vehicles | Both New & Used |
| Example Vehicles | Cayenne |
| Sales Price | $80,000 |
| Section 179 Deduction | $25,000 |
| Bonus Depreciation 2017 - 50% Of Amount Remaining 2018 - 100% Of Amount Remaining | $55,000 |
| Total Depreciation | $80,000 |
| Total Depreciation (% of purchase price) | 100.00% |