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When commercial businesses from Pasco, WA, and surrounding areas want to invest in their fleet with new trucks, vans, and vehicles while benefiting from incredible money-saving tax incentives like Oregon’s 2024 Section 179 Tax Deduction, they always come to Speck Buick GMC. At Speck Buick GMC, we’re not just known for our extensive selection of award-winning GMC trucks and Buick SUVs. We’re also the go-to solution for businesses wanting high-quality, durable, high-performance commercial-use vans like the GMC Savana Passenger, GMC Savana Cargo, and the GMC Savana Cutaway.
As a commercial business owner, you know how critical your commercial fleet is. That fleet is essential to providing products or services on time, keeping customers happy, and delivering on your promises. That’s why investing in newer, more modern trucks and vans is so important. New transportation can mean the difference between leading your market or tagging along, well behind.Whether it is GMC’s lineup of commercial vans, trucks, and SUVs, their high-performance pickups like the GMC Sierra 1500, 2500 HD, and 3500 HD, the GMC Canyon, or Buick’s outstanding array of great-looking, modern SUVs like Buick Envision, Enclave, Envista, and Encore GX – all are eligible for the 2024 Section 179 Tax Deduction.
So, what is the 2024 Section 179 Tax Deduction, and how can you take advantage of this tax incentive to upgrade your current fleet?
The 2024 Section 179 tax deduction within Oregon stipulates that commercial business owners can claim a tax deduction of up to a maximum of $1,220,000 provided they purchase qualified commercial-use vehicles by December 31, 2024. The 2024 Section 179 Tax Deduction is designed to encourage transportation investment within the state of Oregon for commercial businesses.
The ideal tax-savings solution for small and medium-sized enterprises (SMEs) and commercial businesses, additional provisions allow for the depreciation of up to 60 percent of pre-owned and new vehicles. In addition, Speck Buick GMC commercial customers may be able to claim a $30,500 tax deduction for GMC trucks and SUVs that weigh less than 14,000 pounds.
So, what are some of the potential GMC and Buick trucks, vans, and SUVs that qualify for this incredible tax savings program? Provided that you use your vehicle 50 percent of the time for your business, you are eligible to use the 2024 Section 179 tax deduction. This means individuals who are self-employed, small contractors and sole proprietors can take advantage of the tax deduction just as any larger small business would.
Ultimately, with the $30,500 tax deduction for GMC trucks, vans, and SUVs weighing less than 14,000 pounds, the GMC Sierra 1500, 2500, 3500, and 3500 HD all qualify – either as new or pre-owned. The GMC Savana Cutaway, GMC Savana Passenger, and GMC Savana Cargo all qualify as well and Speck Buick GMC customers may be able to secure a 100 percent tax deduction of $30,500 for all these vehicles. Any additional upgrades, features, or add-ons that exceed this $30,500 would not be tax-deductible.
At the Speck Buick GMC dealership in Pasco, WA, we’re proud to support our local small business owners. We understand how important it is to save wherever you can, and our sales and finance teams can help you do just that by taking advantage of the 2024 Section 179 Tax Deduction alongside our extensive lineup of new and certified pre-owned GMC and Buick trucks, SUVs, crossovers and vans.
If you own a business and want to know more about this incredible tax incentive or if you have questions about our lineup of GMC trucks and Buick SUVs, contact us now.
