HOLT Truck Centers 2024 Bonus Depreciation
COUNTDOWN TO YEAR-END SAVINGS Lock In Your Tax Benefits Today! Now’s the time to improve your bottom line. Buy or finance at a HOLT Truck Centers location before December 31st and take advantage of these powerful tax benefits! Secure Your Equipment & Savings! Act now for year-end tax benefits! Contact our sales team to secure your equipment. Fill out the form or call us at (855) 564-4658 Please enable JavaScript in your browser to complete this form.Please enable JavaScript in your browser to complete this form.Name *CompanyEmail *PhoneZIP Code *Message Submit Maximize Your 2024 Tax Savings with Section 179 and Bonus Depreciation Take advantage of significant tax benefits in 2024 by purchasing or financing new or used equipment before December 31. U.S. businesses can capitalize on both Section 179 and Bonus Depreciation to potentially deduct up to 100% of qualifying equipment purchases, helping reduce taxable income and free up cash for other business needs. 2024 Tax Incentives at a Glance Section 179 Deduction: Deduct up to $1,220,000 on qualifying equipment purchases. Total equipment purchase cap $3,050,000. Bonus Depreciation: Deduct 60% on both new and used equipment. Don’t wait to maximize your tax deductions! As the year comes to a close, the window for tax savings is closing fast! By purchasing or financing trucks, buses, or trailers before December 31, you can benefit from both Section 179 and Bonus Depreciation — helping you reduce your tax burden while investing in your business. With Bonus Depreciation, you can write off an additional 60% of equipment costs. Complete your purchase today to boost your savings and reduce your tax bill for 2024. What is Section 179? Section 179 allows businesses to deduct the full purchase price of qualifying equipment or software purchased during the tax year, rather than depreciating the asset over time. This makes it a powerful tax savings tool for small and mid-sized businesses looking to upgrade equipment or expand their operations. For 2024, the Section 179 deduction limit has been increased to $1,220,000, with a total equipment purchase cap of $3,050,000. This means businesses can deduct up to the full purchase price of qualifying equipment, so long as it’s placed into service by the end of the year. Shop New Trucks Browse New Inventory Key Benefits of Section 179: Applies to both new and used equipment. Allows for immediate savings, improving cash flow for your business. What is Bonus Depreciation? Bonus Depreciation is an additional tax incentive that allows businesses to deduct a large percentage of the purchase price of qualifying equipment in the first year it’s in service. Unlike Section 179, Bonus Depreciation has no cap on the total amount of equipment purchased and can be used by businesses of any size, including larger companies. For 2024, Bonus Depreciation allows for a 60% deduction on both new and used equipment purchases. However, this percentage is set to decrease in the coming years, making 2024 an ideal time to invest. Key Benefits of Bonus Depreciation: Can be applied to equipment purchases exceeding the Section 179 limits. Available for both new and used equipment (first use by the purchasing business). Provides an opportunity for businesses to accelerate depreciation and realize immediate savings. How Section 179 and Bonus Depreciation Work Together Combining Section 179 with Bonus Depreciation can offer businesses even greater tax savings. Here’s how it works: Section 179 is applied first, allowing you to deduct up to the limit of $1,220,000. Bonus Depreciation then kicks in, enabling you to deduct 60% of any remaining cost over the Section 179 limit. This combination allows businesses to maximize their deductions, making it easier to invest in new or used equipment before the end of the year. Disclaimer: The information provided here is for general guidance only. Please consult your tax professional for advice on how these deductions apply to your business. This is not meant to substitute for professional tax advice. Visit the IRS website or the Section 179 website for more details.
Clean School Bus Program
Clean School Bus Program Protect the environment and Student Health. The 2024 Clean School Bus Rebate Application Period has opened and will close on January 9, 2025. This important law provides billions of dollars in funding to support our nation’s public transportation programs. NOW OPEN: 2024 Clean School Bus Rebate Application Period Out with the old, in with the clean and new. (Ends January 9, 2025) The Bipartisan Infrastructure Law provides billions of dollars in funding to support our nation’s public transportation programs. As part of this historic initiative, the EPA is authorized to provide over $5 billion over five years (FY 2022-2026) in rebates to replace current diesel school buses with electric and low-emission alternatives. All eligible school districts are encouraged to apply for the 2024 Clean School Bus Rebates and make an investment in cleaner air, reduced health risks and greenhouse gas emissions, and energy storage for the power grid. Program Overvirew How it Works The EPA’s website is your resource for all information related to the 2024 Clean School Bus (CSB) Rebates. You’ll find an outline of important dates, supporting materials available to download, a regularly updated Q&A document, details on eligibility and funding, and the overall selection process. To get more information about the EPA’s Clean School Bus Program Rebates visit the link below. Learn More Your Rebate Application Invest in the health of your students and community with federally funded school bus upgrades. After reviewing the eligibility criteria and the 2024 Clean School Bus Rebates Program Guidance, you’ll be instructed to access the application form. You will also need entry registration to SAM.gov, an official website of the U.S. government to proceed through the dashboard login. Applicants requesting funding must submit their online form no later than January 9, 2025. Apply Now The Next Generation IC Bus CE Series is Here! Invest in the health of your students and community with federally funded school bus upgrades. When it comes to transporting our most precious cargo, only the best will do. IC Bus Electric CE Series is Ahead of its Class and Made In Oklahoma! Let us assist you with any questions regarding your 2024 CSB Rebate Application as well as finding you the best zero-emission school buses for your fleet. IC Bus Our team is ready to answer your questions! Fill out the form and a HOLT Truck Centers™ representative will contact you as soon as possible.