Did you know that you could get a tax break on the purchase of an INEOS Grenadier 4×4? Yes, this is possible under the Section 179 tax deduction. The Internal Revenue Service (IRS) provides this tax break to small or medium commercial businesses to deduct from the price of business equipment.
Section 179 allows business taxpayers to deduct the cost of a vehicle as an expense in the year when the it is first placed in service. it is not an automatic deduction and you will have to apply for it.
Your business must prove that the vehicle is used more than 50% of the time for commercial purposes.
What Vehicles Are Eligible For Section 179?
The IRS determines the eligibility based on the GVWR (Gross Vehicle Weight Rating) which is the maximum safe weight of your vehicle.
Heavy vehicles that weigh over 6,000 pounds (but no more than 14,000 pounds) qualify for a Section 179 deduction.
This tax break can be used on an INEOS Grenadier, the Grenadier Trialmaster, Grenadier Fieldmaster, and Grenadier Quartermaster. All four trims of the Grenadier qualify as “heavy” vehicles over 6,000 pounds.
In addition to the tax savings, your business may benefit from the utility of a large, rugged 4X4 and a design that will attract attention and help grow your brand. Talk to our team about adding logos and other graphics to customize the look of your Grenadier.
To qualify for the Section 179 deduction for the 2024 tax year, your Grenadier must be purchased before December 31st, 2024. For additional tax details specific to your business, be sure to contact a tax professional.
