• Toyota

Central Maine Toyota

15 Airport Rd.
Directions Waterville, ME 04901

  • Sales: (888) 687-7409
  • Service: (888) 717-2486
  • Parts: (877) 825-1927

Save with the Section 179 Tax Deduction in Waterville, ME

Business Owners

Expense Up To $25,000
On Your Next Commercial Vehicle Purchase

2017 Section 179 Tax Deduction

If you own a small- or medium-sized business, you know that every penny you can save counts. At the same time, though, you need the proper tools and equipment to succeed. Whether you're purchasing office supplies, new technology or a vehicle, every single item helps make your business thrive.

4Runner TRD Off-Road Premium shown in Barcelona Red Metallic

Learn More!

If you purchased a new vehicle, or fleet of vehicles, for your business this year -- or if you would like to do so before the year ends -- we can help you save. Here at our Toyota dealership in Waterville, ME, we have plenty of commercial Toyota trucks and we sell fleets of Toyota vehicles to businesses. When you purchase qualified commercial Toyota vehicles at our dealership before the year ends, you can take advantage of the Section 179 Tax Deduction.

In order to qualify for the Section 179 Tax Deduction, your company must have been founded in 2014 or earlier, and it must have been in business for at least two years. When buying your commercial Toyota vehicle, both the owner of the company and the company itself must be in good credit standing. Additionally, if you plan to use your new Toyota strictly for business, the vehicle must be purchased and registered in the company's name, not the business owner's name.

Those business owners who would like to purchase a new vehicle or fleet of vehicles for their company should know that the total deduction for depreciation, which includes the Section 179 and Bonus Depreciation, is limited to $11,060 for cars and $11,160 for trucks and vans. However, if you're purchasing a van, truck or SUV with a GVWR over 6,000 pounds, it may be eligible to expense up to $25,000.

If you'd like to take advantage of the full Section 179 Tax Deduction, your vehicle must meet one of the following qualifications:

  • It can be a heavy non-SUV vehicle with more than six feet of interior cargo space that isn't easily accessed from the passenger area. Pickup trucks with full-sized cargo beds are included here.
  • Your vehicle could be a classic cargo van, meaning the driver's cabin should be closed off with no rear seating.
  • Commercial vans also meet the standards. These vans should have seating for nine or more people behind the driver, such as airport shuttles and hotel vans.

Sequoia Limited shown in Shoreline Blue Pearl

To learn more about the Section 179 Tax Deduction, visit our Maine Toyota dealership at your next convenience!

Tundra SR5 Double Cab Long Bed shown in Silver Sky Metallic
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