Now when you purchase qualifying GM vehicles from Courtesy Chevrolet, you could earn a tax deduction of up to $500,000.
New tax limitations for 2013 continue to provide significant tax benefits to small-business owners.
Now when you purchase qualifying GM vehicles for your business before 12/31/13, you could earn a tax deduction of up to $500,000. Plus you can take advantage of other available incentives to really increase your savings.
GM Vehicle Deduction Eligibility:
Up to $11,160 total deduction per vehicle:
Up to $25,000 total deduction per vehicle:
Up to $500,000 total deduction per vehicle (Aggregate, no per vehicle limit):
For additional business savings opportunities, ask your dealer about the GM Business Choice Program, or visit gmbusinesschoice.com for program details and vehicle eligibility.
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. Additional limitation based on purchases-for the 2013 tax year, the aggregate deduction of $500,000 under Internal Revenue Code Section 179 is most beneficial to small businesses that place in service no more than $2,000,000 of "Section 179 property" during the year. Certain vehicles, models, and restrictions apply. Consult your tax professional for details.
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, or to calculate your bonus depreciation, visit depreciationbonus.org.
For vehicles that qualify as passenger automobiles under the Internal Revenue Code, there is an $11,160 per-vehicle depreciation deduction cap.
For vehicles that qualify as sport utility vehicles under the Internal Revenue Code, there is a $25,000 per-vehicle depreciation deduction cap.
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