Section 179
Maximize Your Tax Savings With Section 179 Eligible Cadillac Vehicles
At Cadillac of Fayetteville, we're proud to offer a selection of luxurious and high-performing Cadillac vehicles that qualify for Section 179 tax deductions, helping business owners save on their taxes while upgrading their fleet. If you're a small business owner looking for a premium vehicle that aligns with your professional image, the Section 179 deduction can make owning a Cadillac more affordable than ever.
What Is Section 179?
Under Section 179 of the IRS tax code, businesses can claim deductions for the cost of eligible equipment and vehicles acquired through purchase or financing within the tax year. It's designed to encourage businesses to invest in themselves by offering significant tax incentives. This deduction isn't limited to heavy machinery or office equipment-it also includes many luxury vehicles, including several Cadillac models.
With Section 179, eligible business owners can deduct up to $28,900 on passenger vehicles, and for larger vehicles with a Gross Vehicle Weight Rating (GVWR) of over 6,000 pounds, the deduction may extend to the full purchase price, up to $1,160,000 (2023 limits).
Benefits of Section 179
Utilizing Section 179 for your Cadillac purchase provides multiple advantages:
- Immediate Tax Savings: Deducting the cost of your Cadillac reduces your taxable income, potentially saving thousands of dollars on your tax return.
- Enhanced Business Image: Driving a Cadillac projects professionalism and success, making a strong impression on clients and partners.
- Flexibility Across Models: With eligible Cadillac SUVs and sedans, you can choose a vehicle that matches your business needs and personal preferences.
- Simplified Ownership Costs: By offsetting a portion of your purchase through tax deductions, Section 179 can make luxury more attainable.
Cadillac Vehicles Eligible for Section 179
Cadillac's lineup offers a range of vehicles that qualify for Section 179 deductions, making it easy to find the perfect fit for your business.
Cadillac Escalade
The iconic Cadillac Escalade and Escalade ESV are powerful SUVs with a GVWR over 6,000 pounds, making them eligible for the full deduction. Known for their spacious interiors, advanced technology, and commanding presence, these SUVs are ideal for business owners who need comfort and style for both work and leisure.
Cadillac XT6
The Cadillac XT6 is a versatile three-row SUV that combines luxury with functionality. Its GVWR qualifies it for significant Section 179 savings, and its roomy interior ensures comfort for client meetings or transporting your team.
Cadillac XT5
For those seeking a midsize luxury SUV, the Cadillac XT5 offers exceptional comfort, style, and advanced safety features. It's another strong candidate for businesses looking to save while enjoying a sophisticated ride.
Cadillac CT5 and CT4
While passenger sedans like the CT5 and CT4 may not qualify for the full deduction due to their GVWR, they're still eligible for up to $28,900 in tax savings. These sedans are perfect for executives or small business owners who value a sleek and professional vehicle.
How to Qualify for Section 179
To take advantage of Section 179, your Cadillac vehicle must meet the following criteria:
- Business Use: The vehicle must be used for business purposes more than 50% of the time.
- Purchased or Financed: Leased vehicles do not qualify for Section 179 deductions.
- Placed in Service by Year-End: The vehicle must be purchased and put into use before December 31 of the tax year.
It's essential to consult with your tax advisor to ensure compliance with IRS regulations and determine the exact deduction amount based on your business use.
Upgrade Your Fleet With Cadillac of Fayetteville
At Cadillac of Fayetteville, we're here to help business owners in Fayetteville and beyond make the most of Section 179. Our knowledgeable team can guide you through the eligible Cadillac models and provide the resources you need to take advantage of this valuable tax incentive.
Contact us today or visit our showroom to explore our selection of Section 179-eligible Cadillac vehicles. Let us help you drive into the new year with style, luxury, and exceptional tax savings.
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The Manufacturer’s Suggested Retail Price excludes tax, title, license, dealer fees and optional equipment. Dealer sets final price.
1Dealer Savings applied to everyone
1Dealer Savings applied to everyone
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CADILLAC OF FAYETTEVILLE
1637 Skibo Rd
Fayetteville, NC 28303
- Sales: (910) 965-5406
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