Take advantage of the Section 179 Deduction this year and buy the trucks you need to enhance your fleet in 2024. Read on to learn how Section 179 can benefit your growing trucking business and help you purchase your next truck Kenworth, Isuzu, or Ford commercial vehicle through All Roads Trucks and write off up to $1,220,000 on your 2024 taxes.  Don’t wait, time is running out, so consult with All Roads Trucks Representative today about saving with Section 179 on your new trucks or learn more below. 

Tax code Section 179 allows businesses to deduct the full price of qualifying equipment and/or software purchased or financed during the year. Therefore, if you purchase (or lease) qualifying equipment, your gross income can be deducted in FULL for the purchase price. This is a government incentive that encourages businesses to invest in themselves and buy equipment.

This deduction is good on new and used trucks. To take the deduction, the equipment must be financed or purchased and put into service between January 1, 2023 and the end of the day on December 31, 2024.

This is the maximum amount that can be spent before the Section 179 Deduction begins to be reduced on a dollar for dollar basis. This spending cap makes Section 179 a true "small business tax incentive.

Bonus Depreciation is generally taken after the Section 179 Spending Cap is reached. The Bonus Depreciation is available for both new and used trucks. 

*The Section 179 deduction has exceptions. Not all equipment purchases qualify. To take the deduction for tax year 2024, the equipment must be paid for in full, physically delivered, and put into service between January 1, 2024 and the end of the day on December 31, 2024 to meet federal guidelines.