Section 179 Tax Deduction
What is tax code 179?
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. It's an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves.
What qualifies for tax code 179?
All businesses that purchase, finance, and/or lease new or used business equipment during tax year 2018 should qualify for the Section 179 Deduction (assuming they spend less than $3,500,000).
| New-Vehicle Deduction Eligibility | ||
|---|---|---|
| Ther are some limitations to the expense deduction, including vehicle eligibility. 1 | ||
| Up to $18,000 deduction per vehicle (No aggregation limitations) 1 | up to 100% of a deduction of the purchase price (No per-vehicle or aggregation limitation) 1,2 | |
| Versa Sedan | JUKE | TITAN |
| Versa Note | Rogue | TITAN XD |
| Sentra | Rogue Sport | Armada |
| Altima | Murano | NV Cagro |
| Maxima | Pathfinder | NV Passenger |
| LEAF | Frontiner | |
| 370Z Coupe | NV200 Compact Cargo | |
| 370Z Roadster | ||
| GT-R | ||
- Each individual's tax situation is unique; therefore, please consult your tax professional to confirm vehicle depreciation deduction and tax benefits. For more details, visit irs.gov. The deductions referenced are for informational purposes only. This information does not constitute tax or legal advice. All persons considering use of available deductions should consult with their own tax or legal professional to determine eligibility, specific amount of deductions available, if any, and further details. The deductions are not within Nissan's control and are subject to change without notice. Interested parties should confirm the accuracy of the information before relying on it to make a purchase.
- The tax incentives are available for depreciable tangible property that is acquired by purchase for use in the active conduct of a trade or business. Consult your tax professional for more details.
Section 179 is particularly beneficial to small businesses purchasing/financing/leasing vehicles for aggregate under $200,000. For example, a $50,000 Nissan NV Cargo Van purchase would realize a cash savings on purchase of over $10,000++ (assuming a 35% Tax Bracket and utilizing the $25,000 deduction plus normal first year depreciation of $5,000).
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