Tuesday, December 16th, the Senate passed the Tax Extenders Bill that expands the Section 179 deduction limit thru December 31st 2014. This has quickly become a huge deal for local businesses big and small. It gives them the ability to write-off 100% of equipment purchases, including vehicles for business use, up to $500,000.
In addition to the increased limit of $500,000, Section 179 deduction will also reinstate the 50% Bonus Depreciation. The bill is a one-year, retroactive extension of the tax breaks, even though it only last through the end of this month. Only this 2014 tax year will be covered by the measure and therefore it is a good business decision for many to buy/finance equipment, such as new vehicle purchases from Preston Ford Commercial Trucks, immediately to make the December 31, 2014 cutoff for the write-off provisions.
“We are excited to hear that the Section 179 deduction has been expanded,” says Dave Wilson Sr., President of Preston Ford and Preston Automotive Group, “Not only will our Ford Commercial Truck customers and buyers be able to take advantage of the expansion but we as a business will be able to as well.” Preston Ford’s Business Preferred Network Commercial Truck Department has seen a large increase of businesses buying new commercial Ford vehicles since the bill was passed. Preston Ford, Ford Dealership of Maryland and Delaware, is currently in pursuit of becoming a Top 85 Ford Dealer in the Nation and has helped accommodate the bills passing by lowering prices on their Ford commercial vehicles and other Ford vehicles. Preston Ford has over 1000 Ford Commercial Trucks in one location at the Preston Autoplex in Preston, MD.
This tax break extension will also directly affect sales in the Preston Nissan Commercial Department. As of now, Preston Nissan of Maryland has over 30 new commercial vehicles: The NV Cargo Van, Passenger Van and NV 200. These vehicles are mostly left all white to make it easy for businesses to customize them with their own insignia and color scheme. This tax deduction expansion is huge and business owners will understand that now is the perfect time for them to buy!
Check out vehicles for any type of business at Preston Ford and Preston Nissan located on the same 38 acre lot in Preston, Maryland. The Top 100 Sales Drive and the extension of this bill are both huge reasons to buy now.