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Tax Code 179 | Sullivan Brothers Toyota
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Toyota Tax Code 179 Deduction Sale

SECTION 179 DEDUCTION FAQ: 2023 FLEET & COMPANY CAR TAX RULES

Want to know what the Section 179 expense deduction is, how it works, and if you're eligible to receive a tax break for your company or fleet vehicle in 2023? Read through our commercial car tax FAQ to find answers to all your questions.

EXPENSE UP TO 100% OF YOUR WORK VEHICLE

 

 

 

SEC. 179 TAX DEDUCTION


YEAR END SALE

 

 

Expires 12/31/23

 

 

What is the Section 179 vehicle tax deduction?

 

If you own and operate a small business or large corporation, the Section 179 tax program allows you to write off the cost of any company car or fleet vehicle as a taxable business deduction. We recommended discussing your options with a tax professional as well as a member of the Business Certified team at Sullivan Brothers Toyota.

 

 

How much money can I save with the Section 179 deduction?

 

Commercial car tax caps for 2023 vary by vehicle weight and business usage rate.

  • Passenger cars: $18,000 total deduction per vehicle
  • Passenger crossovers, vans & trucks: $18,000 total deduction per vehicle
  • Heavy trucks & commercial vans: $25,000 total deduction per vehicle

 

 

What is a business usage rate?

 

Any passenger car, truck, SUV, or van (exceptions apply) that is used for business at least 50% of the time is eligible for the Section 179 expense deduction. Many heavy, non-SUV vehicles, like an NV Cargo Van, are automatically eligible for the full tax break, regardless of business usage rate.

 

All Section 179 fleet vehicles, whether new or used, must be purchased and placed in service before the end of the current tax year to be eligible for this write-off.

EXPENSE UP TO 100% OF YOUR WORK VEHICLE

 

 

 

SEC. 179 TAX DEDUCTION


YEAR END SALE

 

 

Expires 12/31/23

 

 

Where Are We Located?

Sullivan Brothers Toyota

5 Gallen Road

Kingston, MA 02364

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Hours & Location

SALES

Monday9 AM - 6 PM
Tuesday9 AM - 6 PM
Wednesday9 AM - 6 PM
Thursday9 AM - 6 PM
Friday9 AM - 6 PM
Saturday9 AM - 5 PM
SundayClosed

SERVICE

Monday7:30 AM - 6 PM
Tuesday7:30 AM - 6 PM
Wednesday7:30 AM - 6 PM
Thursday7:30 AM - 6 PM
Friday7:30 AM - 6 PM
Saturday7:30 AM - 5 PM
SundayClosed

PARTS

Monday7:30 AM - 6 PM
Tuesday7:30 AM - 6 PM
Wednesday7:30 AM - 6 PM
Thursday7:30 AM - 6 PM
Friday7:30 AM - 6 PM
Saturday7:30 AM - 5 PM
SundayClosed