Chevy Section 179 Tax Deduction Near Milwaukee, WI
If you run a small- or medium-sized business in Milwaukee or the surrounding communities and are trying to optimize your vehicle expenses, here’s an incredible option for you: the Section 179 tax deduction. This advantageous tax rule encourages businesses to enhance their operations with equipment acquisitions, including vehicle purchases.
Curious about which new Chevy trucks are eligible for Section 179 deductions? The auto financing team at Holz Motors can guide you through the process, from choosing eligible vehicles to filing for deductions. The knowledgeable professionals at our Chevy dealership near Milwaukee are dedicated to helping you uncover this great opportunity, so get in touch with us today to set off on your journey!
What Are the Section 179 Requirements for 2023?
Here’s a fact: Section 179 isn’t just confined to those who buy a new Chevy near Milwaukee — even the used vehicles you buy for your business could qualify. No matter what kind of commercial-use vehicles you purchase, they’ll need to be put into service before December 31, 2023, to qualify for your current-year tax filing.1 A wide range of vehicles intended for business use, such as cargo vans, work trucks and other specialized vehicles, generally qualify for a full deduction under Section 179.
Models like the Tahoe, Blazer or Equinox might also earn you partial deductions if they are used for business purposes more than 50% of the time. Remember, the vehicle must be purchased and put into commercial use within the current tax year.
Have any questions? Visit our Chevy commercial vehicle center to get all the information you need.
Which Chevy Models Qualify for Section 179?
The following Chevy models qualify for full or partial tax deductions, as follows:
Up to 100% of Purchase Price1
- Silverado 1500-3500 HD models
(standard or long bed models only) - Silverado 4500-6500 HD models
- Silverado HD Chassis Cab models
- Express Cargo Van
- Express Passenger Van
(12- or 15-passenger models only) - Express Cutaway
- Low Cab Forward
Up to $25,000 (Plus up to 80% of the remaining purchase price plus standard depreciation deduction) 1
- Silverado 1500 – Short Bed
- Tahoe
- Suburban
- Traverse
- Colorado
(all models except 2WD models w/ 5,800 GVWR) - Blazer
- 5-passenger Express Passenger Van
Up to $20,2001
- Bolt EV
- Bolt EUV
- Camaro
- Corvette
- Equinox
- Malibu
- Trailblazer
- Trax
- Colorado (2WD w/ 5,800 GVWR model only)
Chevy Commercial Vehicles Near Me
For your 2023 Section 179 deductions to be valid, your business vehicle must be purchased and put into operation before the conclusion of the current tax year — December 31, 2023.1 That’s why we recommend taking action to claim your Section 179 deductions. Contact Holz Motors in Hales Corners today and let us take you through all the benefits of Section 179!
1 Information accurate as of publication. See dealer for details.