Article from eNews and Specials from AutoTeam Delaware ()
November 15, 2018
Look Forward to Tax Season

 

 

Running a business comes down to your bottom line and now you can make yours even stronger. Under new tax depreciation laws, your business may be eligible to immediately deduct up to 100% of the purchase price of an unlimited number of qualifying Cadillac vehicles purchased in 2018 for business use.

 

All passenger automobiles can qualify for a deduction of up to $18,000 while larger vehicles can qualify for a deduction equal to the full purchase price. Consult your tax advisor for tax implications and savings opportunities.

 

With these new tax depreciation laws, you can save next tax season on the vehicles your business purchases today. There's never been a better time to add the quality and dependability of Cadillac vehicles to your fleet.

 

 

1. Federal tax benefits are available for vehicles acquired for use in the active conduct of trade or business and may change or be eliminated at any time without notice and each taxpayer's situation is unique; therefore, please consult your tax professional to confirm available vehicle depreciation deductions and tax benefits. For more information, visit www.irs.gov. This advertisement is for informational purposes only, and should not be construed as tax advice, or as a promise of availability or amount of any potential tax benefit or reduced tax liability. 2. Passenger automobiles, as defines in the Internal Revenue Code (including SUVs, trucks and crossovers with a GVWR up to 6,000 lbs.), and placed in service during 2018 qualify for immediate depreciation deductions of up to $18,000 per vehicle. 3. Trucks, vans and sport utility vehicles as defined in the Internal Revenue Code with a GVWR over 6,000 lbs. and placed in service during 2018 qualify for immediate depreciation deductions of up to 100% of the purchase price.

 

For more info visit gmfleet.com/tax


Published by Autoteam Delaware
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