When it comes to upgrading your business fleet and taking advantage of significant tax savings, the Section 179 tax deduction is an opportunity you don't want to miss. At Weelborg Chevrolet of New Ulm, we offer a comprehensive selection of Chevy vehicles that qualify for these tax benefits, designed to help your business grow while improving your bottom line.
What Is Section 179?
Section 179 of the IRS tax code is an essential incentive designed to encourage businesses to invest in equipment, including vehicles. By meeting specific criteria, such as using the vehicle for business purposes more than 50% of the time and placing it into service by year-end, businesses can deduct up to the full purchase price.1 Leveraging this tax incentive is a smart choice for business growth.
Section 179 Deduction Limits for 2024
For the 2024 tax year, the maximum deduction allowed under Section 179 is $1,220,000, with a spending threshold of $3,050,000 on eligible purchases.1 These provisions are intended to benefit small- to medium-sized businesses, offering you a chance to deduct the cost of Chevy commercial vehicles efficiently.
Eligible Chevy Models for Section 179
At Weelborg Chevrolet, we proudly offer an array of new Chevy commercial vehicles that can help you leverage Section 179 deductions. These vehicles are crafted to meet the rigorous demands of businesses while ensuring you maximize your financial benefitsunder Section 179:
Up to 100% of purchase price1
- Express Cargo Van
- Express Cutaway
- Express Passenger Van
- Low Cab Forward
- Silverado 1500
- Silverado 2500 HD
- Silverado 3500 HD
- Silverado 4500 HD
- Silverado 5500 HD
- Silverado 6500 HD
- Silverado HD Chassis Cabs
Up to $30,500 plus up to 60% of the remaining purchase price
(plus standard depreciation deduction)1
- Blazer
- Colorado
- Express Passenger Van
- Silverado 1500
- Suburban
- Tahoe
- Traverse
Up to $20,400 per vehicle (no aggregate limitation)1
- Camaro
- Colorado
- Corvette
- Equinox
- Malibu
- Trailblazer
- Trax
Tax credit up to $7,500 (Federal Qualified Clean Vehicle
or Qualified Commercial Clean Vehicle income tax credit)1
- Blazer EV
- Equinox EV
- Silverado EV
Buy a Commercial Chevy in Minnesota
Maximize your business's potential while reducing tax liabilities by choosing a Chevy commercial vehicle from Weelborg Chevrolet. Our dedicated team in New Ulm is ready to walk you through how you can fully leverage the Section 179 deduction to benefit your business.
Contact our dealership today or stop by our dealership to explore our extensive inventory and learn more about the benefits of the Section 179 tax code. Take the step toward smarter business investments and schedule a visit now.
Learn More: New Chevy Specials
1 Information accurate as of publishing date. Please consult https://www.section179.org for the most up-to-date details.
