Section 179 Tax Benefits
Section 179 Tax Deductions | Elevate Your Business
We will help your business thrive. When you shop for your next vehicle at Hight Chevrolet Farmington, you'll take one step closer to elevating your business, choosing vehicles that help you stand above the crowd. With our incredible inventory of Chevrolet and GMC models, finding the right automobile for your business needs is simple.
Our knowledgeable commercial sales team will support you through each step of this process, ensuring you have everything you need to maximize your daily excursions and business objectives. Let the team at Hight Chevrolet Farmington help you see why choosing our dealership and aligning it with Section 179 tax deductions is the right decision.
What is Section 179?
Section 179 is an IRS tax code that has changed how businesses can approach write-offs. In the past, businesses would need to write off the depreciation of assets a little at a time, year after year. With Section 179, you can write off up to 100% of the cost of qualified assets in the year they're placed into service, saving you time and energy on your business taxes.
Key Advantages of Section 179
- Reduction of taxable income that's immediate. Your business does not have to write off deductions a little at a time.
- Enhanced year-end cash flow planning.
- The freedom to reinvest your tax savings back into your business operations.
- A wide range of qualifying equipment you can choose to support your business functions.
How Section 179 Works
To qualify for Section 179, the vehicle's gross vehicle weight rating is considered a determining qualification factor. Additionally, the vehicle must be used for business purposes at least 50% of the time.
For 2026, several limits are in place for Section 179. See below.
- Maximum deduction for certain SUVs (6,000 - 14,000 pounds GVWR): $32,000
- Deduction limit: $2,560,000
- Spending cap: $3,130,000
- Phase-Out threshold: $4,090,000
- Fully Phased-Out threshold: $6,650,000
- Bonus depreciation: 100% (applies after Section 179)
Qualifying Chevrolet & GMC Models
Section 179 tax deductions allow you to purchase qualifying vehicles for your business. A vehicle's Gross Vehicle Weight Rating (GVWR) is used to determine if it's eligible. Models over 6,000 pounds may qualify under this program.
Deduct Up To 100% of Purchase Price (179 Expensing)
- Chevy Silverado 1500
- Chevy Silverado 2500HD
- Chevy Silverado 3500HD
- Chevy Silverado 4500HD
- Chevy Silverado 5500HD
- Chevy Silverado 6500HD
- Chevy Silverado HD Chassis Cabs
- Chevy BrightDrop 400
- Chevy BrightDrop 600
- Chevy Cargo Van
- Chevy Cutaway
- Chevy Express Passenger Van
- Chevy Low Cab Forward
- GMC Sierra 1500 (Standard and Long Bed)
- GMC Sierra 2500HD
- GMC Sierra 3500HD
- GMC Savana Cargo Van
- GMC Savana Passenger Van (10+ Passenger Seating Only)
- GMC Savana Cutaway
Deduct Up To 100% of Purchase Price (Partial 179 Expensing & Bonus Depreciation)
- Chevy Colorado
- Chevy Blazer
- Chevy Blazer EV
- Chevy Equinox EV
- Chevy Suburban
- Chevy Silverado 1500
- Chevy Silverado EV WT
- Chevy Tahoe
- Chevy Traverse
- Chevy Express Passenger Vans
- GMC Sierra 1500 (Short Bed including Denali)
- GMC Sierra EV
- GMC Yukon
- GMC Yukon XL
- GMC Acadia
- GMC Canyon
- GMC Savana Passenger Van (Except 10+ Passenger Seating)
- GMC HUMMER EV Pickup
- GMC HUMMER EV SUV
Deduct Up To $20,300 Per Vehicle
- Chevy Colorado
- Chevy Corvette
- Chevy Malibu
- Chevy Equinox
- Chevy Trailblazer
- Chevy Trax
- GMC Terrain
Find Your Next Vehicle at Hight Chevrolet Farmington
Embrace a better journey when you shop at Hight Chevrolet Farmington. Our knowledgeable team members will walk you through the process so that you can start your journey on the right foot. If you have any questions about Section 179, our experts are happy to assist you. You're always in great hands when you choose our dealership. We look forward to serving you.
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