2019 Last-Minute Vehicle Purchases to Save on Taxes

I’m an accountant, not a car salesman, but I want to make this high-pressure sales pitch right now…

“My friends, if you need a replacement business car, SUV, van, or pickup truck, now is the time to buy!”

Why? Because if you act promptly, you can take advantage of some extremely valuable deductions.

But don’t forget … you have to own the vehicle and place it in service before December 31, 2019 if you want to come out a winner.

We’ll give you all the details when you read my new article titled Tax Tips: 2019 Last-Minute Vehicle Purchases to Save on Taxes.

Four important suggestions you should consider carefully.

1. Buy a new or used SUV, crossover vehicle, or van. Let’s say that on or before December 31, 2019, you or your corporation buys and places in service a new or used SUV or crossover vehicle that the manufacturer classifies as a truck – i.e. a vehicle that has a gross vehicle weight rating (GVWR) of 6,001 pounds or more. This newly purchased vehicle gives you four terrific benefits. We’ll tell you what they are when you read the full article.
2. Buy a new or used pickup. If you or your corporation buys and places a qualifying pickup truck, new or used, into service (on or before December 31, 2019), this newly purchased vehicle will deliver one or more of four big benefits. NOTE: To qualify for full Section 179 expensing, the pickup truck must meet two criteria. We’ll tell you what they are when you read the full article.
3. Buy a new or used qualifying cargo or passenger van. A new or used cargo or passenger van, with a gross vehicle weight rating (GVWR) of more than 6,000 pounds (that is bought and placed in service on or before December 31, 2019), can qualify for four big tax benefits. We’ll tell you what they are and also explain the benefits of buying a cargo van, minivan, or passenger vehicle, when you read the full article.
4. Buy a depreciation-limited new or used car. If you or your corporation buys and places into service a new or used passenger vehicle (such as a car, a pickup, an SUV, or a van with a GVWR of 6,000 pounds or less) on or before December 31, 2019, something terrific will happen. You or your corporation may claim up to $8,000 in bonus depreciation. Don’t miss the important information we’ve got waiting for you when you read the full article.