Maximize Your Business Tax Savings with Section 179
Upgrade Your Drive. Optimize Your Taxes.
Eligible business owners may be able to deduct up to $31,300 with Section 179 when purchasing a qualifying new BMW.
Several new BMW models may qualify for these tax advantages. Contact BMW of Anchorage to explore eligible vehicles and learn more about how Section 179 could work for your business.
How Section 179 Can Benefit Your Business
- Section 179 is a federal business tax deduction designed to help business owners save money when purchasing qualifying equipment, including eligible vehicles. Instead of depreciating the cost over several years, Section 179 allows businesses to deduct a significant portion of a qualifying vehicle's purchase price in the same tax year it is placed into service.
- Eligible business owners may be able to deduct up to $31,300* on a qualifying vehicle, reducing their business's taxable income. In certain situations, it may even be possible to deduct the full purchase price. Eligibility and deduction amounts can vary, so consulting a tax professional is recommended to determine what applies to your business.
- This tax advantage is especially beneficial for small businesses that want immediate tax savings rather than waiting years for depreciation. Section 179 can provide the financial flexibility to purchase the vehicles your business needs now, helping you stay productive while potentially lowering your overall tax burden.
Who Is Eligible for Section 179 Tax Savings?
Your business may qualify for Section 179 if you meet the following criteria:
- You purchased or financed qualifying new or used business equipment, including eligible business-use vehicles, during the current tax year.
- The equipment is used for business purposes more than 50% of the time.
- Your total equipment purchases for the year are under $4,000,000.
Section 179 Deduction Limits Explained
Section 179 does include annual limits on how much you can deduct:
- The maximum deduction allowed is $2,500,000.
- The total cost of qualifying equipment placed into service must not exceed $4,000,000 for the tax year.
- Because eligibility and limits can vary, it's recommended to consult with a tax professional to determine how Section 179 applies to your specific business situation.
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BMW of Anchorage
730 E 5th Ave
Anchorage, AK 99501
- Sales: 877-606-8867
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