Write off your entire purchase in 2022.*
Business owners, or those planning to participate in our RentMySprinter.com Program, may be eligible to take advantage of IRS Section 179, where you can take 100% depreciation in 2022*. You can now write off the entire purchase price of a new luxury van in the year you purchase and take delivery. That’s like the government writing you a check for up to $50,000, making your new luxury van less than the cost of a nice SUV!
A Brief Explanation
With the passage and signing into law of H.R.1, aka, The Tax Cuts and Jobs Act, the deduction limit for Section 179 increased to $1,000,000 for 2018 and beyond. The limit on equipment purchases likewise has increased to $2.5 million.
*Certain restrictions apply so it’s important to check with your accountant.