Mercedes-Benz Section 179
Are you curious about the Mercedes-Benz tax incentives you may be eligible for? Visit Viti Mercedes-Benz to speak with our auto financing team about how you can save on the new or pre-owned luxury commercial vehicle you have an eye on.
If you're interested in investing in your local business, partner with our Mercedes-Benz dealership near Plymouth. Depending on the Mercedes-Benz model you wish to purchase, you may be able to claim the Section 179 Tax Deduction at our Rhode Island Mercedes-Benz dealer.
Review the Section 179 tax guidelines and stop by at your earliest convenience to claim luxury vehicle tax savings today.
2024 Section 179 Tax Deduction Overview
If you want to buy a pre-owned or new Mercedes-Benz near Plymouth and make use of the 2024 Section 179 tax deduction, you must do so before December 31, 2024.1 The vehicle must also be used for business purposes more than 50% of the time and be titled in the company's name.1
Other important Section 179 highlights include:
- 2024 Deduction Limit: $1,220,000 (up from last year)1
- Good on new and pre-owned equipment (as long as new to the buyer)
- Purchased or leased
- 2024 Spending Cap: $3,050,000 (up from last year)1
- This is the maximum amount that can be spent on equipment before the Section 179 Deduction available to your company begins to be reduced on a dollar-for-dollar basis (making it a true small-business incentive)
- 2024 Bonus Depreciation: 60% (down from 80% last year)1
- Defined as: a tax incentive that allows a business to immediately deduct a large percentage of the purchase price of eligible assets
- Generally taken after the Spending Cap is reached
- Applies to new and pre-owned vehicles
Which Mercedes-Benz Models Qualify for Section 179?
The Section 179 tax deduction allows your company the opportunity to reduce the costs of eligible vehicles that are used for business purposes. For the 2024 tax year, SUVs that have a GVWR (gross vehicle weight rating) over 6,000 pounds can qualify for a deduction.1 Eligible Mercedes-Benz models include:
- Mercedes-Benz GLS 580 4MATIC®
- Mercedes-Benz GLS 600 4MATIC®
- Mercedes-Benz G 550
- Mercedes-AMG® G 63 4MATIC®
We're also happy to showcase our new Mercedes-Benz commercial inventory, which includes work vans that are eligible for partial or full deductions. Whether you want to build and price a Mercedes-Benz Sprinter or check out our selection of Mercedes-Benz Metris vans, we have commercial vans for sale in Rhode Island that are designed to lend your growing business the helping hand it deserves.
Mercedes-Benz Commercial Vehicles Near Me
As an incentive for small- to medium-sized businesses to invest in themselves, Section 179 offers those interested a great opportunity to save. To learn more about Mercedes-Benz GVWR ratings and Section 179 tax rules, contact Viti Mercedes-Benz in Tiverton -- we look forward to hearing from you soon.
1 Information accurate at the time of publishing. Refer to https://www.section179.org for the most current specifics.
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