INFINITI Section 179 Tax Deduction Information
What Are the Section 179 Limitations & Requirements?
The IRS specifies what types of vehicles can qualify for the Section 179 tax deduction. Vehicles can qualify so long as they’re used for business purchases at least 50% of the time and put into service before end of day on December 31, 2022. You can buy a new or used INFINITI and claim the Section 179 tax deduction — what’s important is the vehicle is new to you!
Section 179 deduction limits include:
- Cars: $11,160 (including Bonus Depreciation)1
- Trucks & Vans: $11,560 (including Bonus Depreciation)1
- Certain SUVs between 6,000-14,000 pounds: $25,000 (including Bonus Depreciation)1
What Are the 2022 Section 179 Deduction Limits?
For the 2022 tax year, the Section 179 deduction limits are as follows:
- 2022 Deduction Limit: $1,080,0001 — valid on new and used equipment (must be new to the buyer).
- 2022 Spending Cap: $2,700,0001 — the max amount that can be spent on equipment before the Section 179 tax deduction begins to reduce on a dollar-for-dollar basis.
- 2022 Bonus Depreciation: 100%1 — generally taken after the Spending Cap is reached, valid on new and used equipment.
Which Vehicles Qualify for Section 179 Savings?
Vehicles that can be used for business purposes such as cargo vans and heavy-duty trucks can qualify for Section 179 tax savings, but luxurious new INFINITI models can also qualify so long as they’re used for business at least 50% of the time. Whether you want to claim the Section 179 deduction on an INFINITI QX80 or ask about other eligible models, don’t hesitate to reach out to Herb Chambers INFINITI of Westborough.
Ready to upgrade your fleet? Reach out to a Herb Chambers sales expert and see what Section 179-qualifiying vehicles we have available. We have access to the largest inventory in our area, so we can’t wait to help you claim Section 179 tax savings when you buy a car!