BMW Section 179 Deduction near Greensburg, PA

Upgrade your business' presence on the road when you expand your fleet with premium BMW vehicles. Many of the new and used BMW vehicles on our lot are eligible for Section 179 deductions -- a tax code created by the IRS to help small- and medium-sized businesses invest in themselves by allowing them to write off up to 100% of the costs of vehicles used for company purposes.1 To claim this tax credit during the current tax year, vehicles must be purchased and put into service by December 31, 2022. So, be sure to hurry into our BMW dealership near Greensburg to speak with our auto sales experts now!

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What Are the Section 179 Deduction Limits for 2022?

While the Section 179 tax deduction is typically associated with commercial vehicles, this tax incentive can also apply to a variety of other models based on different weight and design requirements. You can also take advantage of partial Section 179 deductions for passenger vehicles that are used for business purposes at least 50% of the time. What's more, Section 179 can also help you save on used vehicles -- what's important is that the vehicle is "new to you." For 2022, the Section 179 deductions for passenger vehicles are:

  • Cars: $11,160 (including Bonus Depreciation)1
  • Trucks & Vans: $11,560 (including Bonus Depreciation)1
  • Certain SUVs between 6,000-14,000 pounds: $25,000 (including Bonus Depreciation)1

Because Section 179 is designed to benefit small and medium businesses the most, there are limits to how much each company can write off each year. The 2022 Section 179 limits are:

  • 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.
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