PEORIA, Ariz., Dec. 21, 2020 /PRNewswire-PRWeb/ -- Mercedes-Benz Arrowhead Sprinter, a Phoenix-area dealership that retails new and used Mercedes-Benz work vans, is promoting the last chance for customers to earn a Section 179 tax deduction on their van purchase. Customers in the area are encouraged to make their van purchases by the end of the year so that they can earn a significant tax deduction when they file their taxes in 2021. Section 179 of the I.R.S. tax code offers small businesses a tax deduction on the cost of qualifying business vehicles, which include Mercedes-Benz vans.
Qualifying customers are those who are purchasing the van as a business expense during the 2020 tax year. The equipment must be put into service before the end of the year in order to qualify for a tax deduction, which gives customers a week and a half to take advantage of this temporary offer. Customers are encouraged to visit as soon as possible to start the process.
The Mercedes-Benz van purchase will qualify for a tax deduction if it is used for business purposes for more than 50% of the time. That means that small and large businesses in the area will qualify for the deduction, but they need to use the van for deliveries, moving equipment or some other business-related role. Drivers can use the van for personal use as long as it does not exceed 50% of the time. The tax deduction also applies to businesses that have spent less than $3,500,000 on equipment this year.
To learn more about the deduction, customers can contact the dealership or visit the dealership in person or online at arrowheadmbsprinter.com.
Matt McDermott, Mercedes-Benz Arrowhead Sprinter, (480) 213-1265, [email protected]
SOURCE Mercedes-Benz Arrowhead Sprinter