Commercial Truck Tax Write-Offs New Mexico
Commercial Truck Tax Write-Offs New Mexico
Find Your Next Commercial Truck at Tate Branch Carlsbad!
If you’re shopping for a new commercial truck for your growing business in the Carlsbad, New Mexico, area, then visit New Mexico’s premier commercial truck destination: Tate Branch Carlsbad! Here, you can find a wide range of the latest commercial truck models from Ram along with flexible financing options and top-notch service. Did you know that you can also take advantage of tax write-offs when you buy a commercial truck? Below, we’d like to give you more information about the tax benefits business owners can take advantage of when they purchase a new commercial vehicle. Read on to learn more!
Section 168(k) Deduction
Commercial trucks, like the ones provided by Ram Professional, qualify as property for purposes of section 168(k) for federal income tax purposes. Translation: the taxpayer can choose to treat the cost of any qualified property – in this case, a commercial vehicle – as an expense allowed as a 60% deduction for the tax year that the vehicle was purchased and put to use. It’s also important to note that any upfits available, such as organization tools for the ProMaster van or a dump bed for the Ram Chassis Cab, may also qualify as qualified property under section 168(k). We strongly recommend working with your tax professional to help further your understanding of this write-off and see how you qualify.
Section 179 First-Year Expensing
Commercial vehicles purchased for business use also qualify as section 179 property. This offers taxpayers a more practical advantage by allowing them to deem the cost of any section 179 property as an immediate expense, making it eligible for a tax deduction the same year it was bought and put to use. Businesses that qualify can expense up to $1,220,000 of section 179 property. When upfits are purchased along with the vehicle, they can be treated as section 179 property as well.
What Models Does the Ram Professional Lineup Include?
If you’re in the market for a new work truck, make Tate Branch Carlsbad your one-stop destination for Ram Professional vehicles, where you can find more than 100 new Ram Professional vehicles ready for your choosing! The ProMaster van, for example, is designed with both electricians, plumbers, and delivery drivers in mind, offering a huge cargo area for supplies and other items. Meanwhile, if a truck is what you need, Ram should be your go-to brand. The light-duty Ram 1500 is an excellent choice for landscapers needing to tow equipment. However, for the heavier towing jobs, the Ram Heavy Duty lineup, featuring the Ram 2500 and 3500, offers towing capacities ranging from 18,210 pounds to a mind-boggling 37,090 pounds! Furthermore, the Ram Chassis cab, available in 3500, 4500, and 5500 models, essentially offers a blank canvas to upfit it with dump beds, bucket truck upfits, gooseneck trailer connections, flat beds, and many more.
Tate Branch Carlsbad is New Mexico’s Commercial Truck HQ!
If you’re searching for a new commercial vehicle in New Mexico, look no further than Tate Branch Carlsbad, New Mexico’s commercial truck headquarters! Click here to visit our commercial vehicle inventory to find the one that meets your business needs. We also invite you to use the contact form below this page to get in touch with our commercial sales team and navigate the world of commercial vehicles. We look forward to earning your business!