If you’re looking at a new Mercedes-Benz work van for your business than you’ll be pleased to know that you’ll get more than just an excellent vehicle when you buy! While both the new Mercedes-Benz Sprinter and Metris are excellent vans, guaranteed to please any driver, buyers will also benefit from a tax write off when they buy! Continue reading to learn what this tax write off includes and how you can receive it!
What is Section 179 and How Do You Benefit?
Section 179, often known as the “Hummer Tax Loophole,” is a popular tax deduction that has been used for vehicles. It’s a tax deduction that allows businesses to buy large vehicles such as SUVs and vans and write them off as a tax deduction or business expense. Vehicles often must meet certain qualifications to qualify, but even passenger vehicles can be used.
Vehicles used for business qualify by default for this policy, and it can be used for vehicles purchased outright, leased, or financed with special financing options specific to Section 179.
What Vehicles Qualify for Section 179
It is easy to list what vehicles qualify as a business vehicle under Section 179, as the rules for the deduction only specify that the vehicles must serve both business and personal function both. Some of the vehicles that qualify for this include:
Vehicles that can seat nine+ passengers behind the driver’s seat
Vehicles with a fully-enclosed driver’s compartment/cargo area, no seating at all behind driver’s seat. This is often seen as a cargo van.
Heavy construction equipment, forklifts, and similar
Tractor Trailers will also qualify
As you can see from the list above, the work vans offered by Mercedes-Benz do qualify for this amazing tax deduction, falling under the second bullet point. This means that you’ll get a great vehicle, and be able to write off the expense, when you get a new Mercedes-Benz work van!
To learn more about our vans, and what Section 179 can offer you as a business owner, please contact us at Silver Star Motors today!