Tax Benefits for Luxury Vehicles in Salt Lake City, Utah

Tax Advantages For Your Business: Explore Options With Salt Lake City Motorcars

Salt Lake City, Utah business owners might be able to save more than they expected on a new vehicle when they shop at Salt Lake City Motorcars. By taking advantage of Section 179 of the tax code, you and your business might be able to write off some or all of your purchase. Discover the possibilities with Salt Lake City Motorcars today.

Deduct Up to $1,220,000 in Qualifying Purchases

Section 179 allows business owners to take deductions on qualifying vehicles, which can include select models from our Bentley, Lamborghini, Lotus, and Aston Martin inventory. By strategically timing business purchases - such as a new or pre-owned vehicle - businesses can significantly reduce their tax liability at the end of the year.

Vehicles must be purchased during 2024 and placed into service no later than December 31st, 2024. While the deduction limit 2024 is $1,220,000, it changes each year, so consult a tax professional for the latest information. It's also important to remember that heavy SUVs are subject to a maximum of $30,500 deduction for 2024.

Bonus Depreciation

Save even more by taking advantage of 60 percent bonus depreciation for 2024. Already made significant purchases this year for your business? Bonus depreciation allows you to write off a percentage of your purchase with no spending limits. For 2024, the IRS allow business owners to write off up to 60 percent of an asset's cost. 2025's limit is 40 percent, and 2026's is 20 percent, so you'll get the most savings by buying today.

Explore Our Luxury Car Lineup and Take Full Advantage of Section 179

We're happy to offer Salt Lake City, UT, shoppers a chance to get behind the wheel of a vehicle that elevates their driving experience, and it's even better when it helps out their small business expenses. Browse popular Section 179-eligible vehicles in our new inventory, including:

Get in touch with Salt Lake City Motorcars and see how we can help guide you toward a purchase that fits you and your business right. 

  1. Salt Lake City Motorcars

    1231 W South Jordan Pkwy
    South Jordan, UT 84095

    • Sales: 385-417-4412
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  • Contact our Sales Department at: 385-417-4412
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