AdChoices
Get a Section 179 Deduction
in Richmond, VA
Give your local business a boost this tax season with a new GMC or Buick vehicle, for sale at Haley Buick GMC Airport. When you visit our Buick dealership in Richmond, you could claim a Section 179 deduction on a vehicle that's perfect for your business. Whether you need the GMC Sierra 1500 towing capacity or want to transport passengers in a luxurious Buick Enclave, there are plenty of options at our Virginia dealership. Our team will help make you aware of what qualifies for a Section 179 deduction, and we'll be happy to answer any additional questions you may have. Don't wait too long, as your vehicle must be put into service by December 31, 2022, to receive the Section 179 tax deduction.1
Which New GMC & Buick Vehicles Qualify for a Section 179 Tax Deduction?
- GMC Terrain
- GMC Sierra 1500
- GMC Yukon
- GMC Yukon XL
- GMC Acadia
- GMC Sierra 2500 HD
- GMC Sierra 3500 HD
- GMC Savana Passenger, Cargo and Cutaway Vans
- GMC HUMMER EV
- GMC Canyon2
- Buick Encore
- Buick Encore GX
- Buick Envision
- Buick Enclave
What Are the Section 179 Limitations?
To take advantage of a Section 179 deduction at Haley Buick GMC Airport, your company’s vehicle purchase must meet certain qualifications. The following requirements are needed to file a Section 179 expense deduction:
- Vehicle must be delivered and put into service by December 31, 2022
- Vehicle must be used for business at least 50% of the time
- Vehicle may be new or used
Deduction limitations for 2022 are as follows:
- 2022 Deduction Limit: $1,080,0001 -- valid on new and used equipment (must be new to the buyer).
- 2022 Spending Cap: $2,700,0001 -- the max amount that can be spent on equipment before the Section 179 Tax Deduction begins to reduce on a dollar-for-dollar basis.
- 2022 Bonus Depreciation: 100%1 -- generally taken after the Spending Cap is reached, valid on new and used equipment.
- Deduction limit of $11,160 for cars (including Bonus Depreciation)1
- Deduction limit of $11,560 for trucks and vans (including Bonus Depreciation)1
- Deduction limit of $25,000 for certain SUVs between 6,000 and 14,000 pounds (including Bonus Depreciation)1
Commercial GMC & Buick Vehicles for Sale in Virginia
Buy a new GMC pickup or Buick SUV for your small business, or get an entirely new fleet at our Richmond dealer! The Section 179 deduction is designed to help small businesses soar, so come take advantage today. Please don't hesitate to contact Haley Buick GMC Airport if you have any additional questions. We'll set you up on the path to success and help you receive a Section 179 tax deduction on your new GMC commercial vehicle purchase.
1 See dealer for details.
2 Full deduction of purchase price applicable to all Canyon models except those equipped with 4WD and the 2.8-liter diesel engine. Canyon models equipped with 4WD and the 2.8-liter diesel engine are eligible for up to $19,200 per vehicle.