Tax Write Off

Maximize Your 2024 Tax Deductions

Thanks to the 2017 IRS Tax Cuts and Jobs Act, many small businesses that invest in new equipment, including qualifying new vehicles, may be able to write off up to the entire purchase cost of these purchases on their 2024 IRS returns.

Some IRS Rules About The Tax Write-Off:

• Vehicles must be used for business purposes more than 50% of the time.
• Equipment must be financed and in place by midnight December 31, 2024.
• Businesses that purchase and/or finance less than $2,620,000 in business equipment during the tax year 2024 should qualify for the Section 179 Deduction.
• Consult a Tax Accountant for complete details.