Utilize The Section 179 Tax Deduction at Bob Moore Cadillac Norman

Take advantage of the Section 179 tax break before the year ends with Bob Moore Cadillac of Norman! Section 179 is a federal deduction aimed at helping businesses invest in their operations, offering considerable savings on vehicles that meet specific criteria. We’ll help you understand what Section 179 is, how it can benefit your business, and how you can qualify on your next Cadillac purchase. Bob Moore Cadillac Norman has several models and trim levels that are eligible for the business vehicle tax deduction, from mid-size SUVs like the Cadillac XT5 to full-size classics like the Cadillac Escalade. To learn more about Section 179 and which vehicles qualify, visit our Norman Cadillac dealership today!

About the Section 179 Business Vehicle Tax Deduction 

Section 179 is all about helping business owners invest in their companies without taking on too much risk. It allows you to deduct the cost of property as an expense, allowing you to deduct up to $25,000 per vehicle on your business tax return when you make an eligible purchase. This helps business owners purchase more vehicles, qualify for larger SUVs and spec into additional features. Just like any tax credit, there are some requirements you have to meet, which we’ll break down below.

How Does a Vehicle Qualify for Section 179?

Your vehicle must have a gross weight of over 6,000 lbs and under 14,000 lbs to qualify for the tax break. You also have to put the vehicle into service by the end of the year, which is why Section 179 purchases are typically made at year-end. To qualify as put in service, the vehicle simply needs to be used more than 50% of the time for business purposes. Originally, this section of the tax code was intended for vehicles like forklifts, cargo vans, heavy-duty trucks, and other mid-size machinery. These days, SUVs also fit the weight requirements laid out in the tax code, allowing business owners who need a new SUV to take advantage of the code. As long as you use the vehicle for business over 50% of the time, you can still use the Cadillac SUV as a personal vehicle after hours. 

Cadillac Vehicles Eligible for The Section 179 Tax Deduction 

We stock several vehicles that qualify under Section 179, including the Cadillac XT5, XT6 Escalade, and Escalade ESV. Models like the Cadillac Lyriq EV sit right at the lower end of the weight limit, with some models qualifying and others missing the benchmark. The Cadillac Escalade, in particular, is a popular choice for businesses looking to project excellence in all they do. It’s an excellent transport SUV, popular among CEOs and private chauffeurs alike. The XT5 and XT6 offer similar features at a lower price point, albeit with a smaller cabin. Our lot has a wide range of trim levels, colors, and models to explore. Visit our Norman location to find your next Cadillac SUV for sale today!

Bob Moore Norman Cadillac dealership is here to answer any questions about your next Cadillac! We recommend consulting a tax professional for questions about the tax implications of your purchase or how that impacts your business.