2020 Tax Benefits
for Commercial Vehicle Purchases
With 2020 tax incentives, you could be eligible to deduct the total cost of your vehicle (or vehicles) up to to a total of $1 million when you purchase qualifying vehicles for your business before 12/31/20.
Read more about the details of Section 179 here: Section179.org
Federal tax depreciation deductions are only available for vehicles used in a trade or business, and are subject to change without notice. Each taxpayers’ tax situation is unique, so please consult your tax adviser to determine your business’ vehicle depreciation deduction. For more information, visit irs.gov. This is for informational purposes only, and should not be construed as tax advice, or as a promise of the availability or amount of any potential tax benefit or reduced tax liability.
Lists of Qualifying Vehicles By Make:
Am I Eligible for Business Choice Rebates?
1. Are you a business owner?
2. Is the vehicle used in the day-to-day operation of your business and not solely for personal/non-business-related transportation purposes?
3. Can you provide one of the following eligible business documents that identifies you as the owner of the business?
– GM Fleet Account Number (FAN)
– DBA (Doing Business As)
– Sales Tax License
– State Business License or State/Federal Business Tax ID Certificate
– State Occupational License for Trade (For example: plumbers, electricians, contractors, etc.)
– Municipalities (In lieu of bid assistance, vehicle must be in the name of the municipality)
– Municipal Business License
– Prior-year Schedule C (Form 1040) or Schedule F (Form 1040-Farmers only)
– Crop or Livestock Insurance
– Federal Land Use Restriction and/or Land Grant Subsidiary Documentation
– Commercial General Liability Insurance Policy
– Public Liability Insurance Policy and/or Workmen’s Compensation Insurance Policy
– State or Federal Authorized Business Web Site
– Pocket List of Railroad Official Guide (Only eligible when railroad operators incentive is not used)
– Most Current Business Tax Forms
– Timber Registration Number
– Agriculture ID
– Tax Form 1120-S
– Tax Form 1065
– Farmer’s General Liability Insurance
– Articles of Incorporation
– Pocket List of Railroad Official Guide
Runde Chevrolet | East Dubuque
Runde Chevrolet Buick GMC | Platteville
We take pride in giving you the best value on the new Chevrolet and GMC vehicles your business depends on. And you can stack up select Business Choice offers and other small-business incentives to get an even bigger haul. To learn more about current offers, contact your dealer or visit gmbusinesschoice.com for details and vehicle eligibility.
Runde Ford Chrysler Dodge Jeep Ram | Manchester, IA
We have your business needs covered with Ford Transit Connects, commercial F-Series trucks, Ram commercial trucks, duallys, cargo and passenger vans, and other commercial vehicles. Once you choose the vehicle that’s right for your business needs, we also provide complete upfits.
Financing is available through Ford Motor Credit, GM Financial, Ally Financing, and others. We also have great commercial lending and leasing options!
Our sales staff has the knowledge and experience you want when looking for a commercial vehicle. We can find you the right vehicle for any job at the perfect price.