Does the tow truck you want to finance qualify for a Section 179 deduction? Check out the partial list below – it may qualify for a Section 179 deduction on your 2023 tax returns.
The following trucks exceed more than 6,000 pounds in gross vehicle weight rating (GVWR). The truck models below include their average GVWR so you can easily check. The truck you need for your tow truck enterprise may qualify* for a Section 179 deduction.
2021 Kenworth T880 (34,200 lbs)
2020 Ram 5500 (19,500 lbs)
*Remember: Make sure to consult with your CPA or tax advisor prior to any equipment purchase to discuss the tax savings for your business. Don't see a truck included in this list? Be sure to consult your tax advisor to see if it qualifies for a Section 179 tax deduction.
Ready to maximize your tax savings on your next tow truck purchase this year? Don't miss out on this opportunity to save big and expense 100% of your truck's cost with a Section 179 deduction.
Use our FREE calculator now to see how affordable your truck's cost could be after tax savings! And if you purchase equipment worth over $1,160,000 and put it into service by December 31st, you may also be eligible for Bonus Depreciation.
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