At GM, we are constantly striving to give businesses the best value on vehicles you depend on. With the 2014 tax incentives, you could be eligible for up to a total of $25,000 in tax deductions when you purchase qualifying GM vehicles for your business before 12/31/14. And you can stack up Business Choice offers and other small-business incentives to get an even bigger haul. Chevy Vehicle Deduction Eligibility There are some limitations to the expense deduction, including vehicle eligibility. Up to $3,160 total deduction per vehicle
Up to $25,000 total deduction per vehicle
Up to $25,000 total deduction [Aggregate, no per-vehicle limit]
The tax incentives are available for depreciable tangible property that is acquired by purchase for use in the active conduct of a trade or business. Additional limitation based on purchases: For the 2014 tax year, the aggregate deduction of $25,000 under Internal Revenue Code Section 179 is most beneficial to small businesses that place in service no more than $200,000 of “Section 179 property” during the year. Certain vehicles, models, and restrictions apply. Each individual’s tax situation is unique; therefore, please consult your tax professional to confirm vehicle depreciation, deduction, and tax benefits. For more details, visit irs.gov. For vehicles that qualify as passenger automobiles under the Internal Revenue Code, there is a $3,160 per-vehicle depreciation deduction cap. For vehicles that qualify as sport utility vehicles under the Internal Revenue Code, there is a $25,000 per-vehicle depreciation deduction cap.
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