Tax Advantages of Buying a New Range Rover, Defender or Discovery
Tax Advantages: Shopping and Saving With Land Rover Roaring Fork
Savvy Garfield County business owners are always looking for ways to save when it comes to tax liability, and Land Rover Roaring Fork is here to help. We're happy to assist shoppers with navigating Section 179 and other tax code stipulations that might make owning that Discovery, Range Rover, or Defender SUV an even more attractive prospect.
Make Use of Section 179 & Bonus Depreciation
Section 179 of the tax code states that businesses that purchase qualifying vehicles - including some SUVs - with a GVWR (Gross Vehicle Weight Rating) over 6,000 can write off some or all of the cost. All that's required is the vehicle sees more than 50 percent business use and is placed in service before December 31st, 2024. Note that vehicles under 14,000 GVWR are limited to $30,500 for 2024.But there's still more to save by considering bonus depreciation. Bonus depreciation allows business owners to write off future depreciation of a new vehicle in the year it is purchased. For 2024, bonus depreciation is set at 60 percent; it drops to 40 percent for 2025, 20 percent for 2026, and is currently slated to phase out by 2027. It's not hard to see why shoppers in Glenwood Springs and beyond looking to get the best return on their dollar when shopping for a new vehicle should act today. Reducing tax liability is essential to running an efficient business. Purchasing and saving on a new SUV ensures your business has reliable and luxurious transportation.
Reduce Tax Liability By Driving a Luxury SUV
No matter what line of work you're in, an SUV at our Glenwood Springs dealership fits the bill. Explore models like the Defender 130 and Defender 110, which offer room for up to eight people to take to real estate showings, team meetings, and anywhere else duty calls. Or take advantage of the Range Rover models that come with a 13.1-inch touchscreen for constant connectivity, no matter where you are in the Rocky Mountains. We encourage shoppers in the Roaring Fork Valley to also consider the Discovery models on hand. This versatile luxury SUV can tow up to 8,200 pounds, so it's perfect for businesses working with heavy equipment or trailering. Get exploring the Colorado River and cruising I-70 in style, and bring your business to the next level by taking advantage of Section 179, bonus depreciation, and the vast inventory of new vehicles at Land Rover Roaring Fork. We look forward to continuing the conversation.
Price excludes tax, tag and title. Price includes $599.00 delivery and handling fee. Some vehicles may be in transit to the dealership
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USED VEHICLES MAY BE SUBJECT TO UNREPAIRED MANUFACTURER RECALLS. PLEASE CONTACT THE MANUFACTURER OR A DEALER FOR THAT LINE MAKE FOR RECALL ASSISTANCE/QUESTIONS OR CHECK THE NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION WEBSITE FOR CURRENT RECALL INFORMATION BEFORE PURCHASING.