Chevy/GMC Tax Credit Info

Chevy and GMC Work Vehicle Tax Benefits in Denton, TX

There are currently two main categories of tax benefits for your business’ fleet vehicles. Depending on the exact make, model, and trim, you may be eligible to deduct either up to $19,200 per vehicle, or the full purchase price of your vehicle. There’s no limit to the number of eligible vehicles in a year, so whether you need a single van or an entire fleet of trucks, you can earn some massive savings on your taxes. These savings apply to Chevy, Buick, GMC, and Cadillac vehicles of all shapes and sizes, so be sure to consult with a tax advisor to see how much you can save today.

Chevy and GMC Tax Credit Eligibility in Denton, TX

For a vehicle to be eligible for these great tax credits, it must be used as part of a trade or business. As long as your vehicle is part of your job, you should be able to claim up to the full value as a deduction in the year of purchase. If you want to know how much of a deduction you can claim on your work vehicles, be sure to consult a tax advisor. 

How to Claim a Chevy and GMC Tax Credit in Denton, TX

It’s simple to save big for your business when you purchase a fleet vehicle from Chevy or GMC. When you prepare your taxes, you can simply claim the purchased vehicle as a deduction thanks to the current tax depreciation laws. The exact size of the deduction may change based on the particular make and model of the vehicle you purchased but may be up to 100% of the purchase price. 

*See your account for your specific business details*