Now’s the time to improve your bottom line. Buy or finance at a HOLT Truck Centers location before diciembre 31 and take advantage of these powerful tax benefits!
Act now for year-end tax benefits! Contact our sales team to secure your equipment.
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Take advantage of significant tax benefits in 2024 by purchasing or financing new or used equipment before diciembre 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.
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 diciembre 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.
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.
Key Benefits of Section 179:
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:
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:
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.
