Luxury Car Section 179 Tax Deductions
Here at The Luxury Collection Walnut Creek, we’re pleased to cater to Greater Bay Area business owners who are looking for an upgrade in both style and productivity through the Section 179 tax deduction. As you’ll learn more about at our luxury car dealership near San Francisco, the Section 179 deduction allows you to deduct up to 100% of the costs of eligible vehicles. 1 In order to qualify for Section 179, the vehicle must be purchased and put into service by December 31, 2023. Plus, the eligible vehicle you want to write off must be used for business purposes. Don’t wait, visit our local luxury dealer to buy a Section 179 eligible Aston Martin, Bentley, Lamborghini or Maserati today.
**As always, consult your tax professional for exact rules regarding Section 179 and vehicle eligibility. **
Section 179 Tax Limits
Section 179 is designed to assist small and medium businesses with their spending. For 2023, the Section 179 tax deduction limits are as follows:
- 2023 Deduction Limit: $1,160,000 1 — valid on new and used equipment (must be new to the buyer).
Eligible Section 179 Luxury Vehicles
From new Maserati Levante SUVs to used Bentley Bentayga trims, we have a select assortment of premium cars that are eligible for Section 179 waiting for you at our Greater San Francisco luxury car dealership. Wondering if the Lamborghini Urus meets the Section 179 tax qualifications? Interested in financing a new Aston Martin DBX to add to your fleet? Please contact The Luxury Collection Walnut Creek for a full list of eligible cars and to review the details on Section 179 in California.
1 Information accurate at date of publishing. Refer to https://www.section179.org for most up-to-date specifications.