Section 179 Tax Deductions for 2022 Put More Cash In Your Pocket
Looking to Buy a Commercial Vehicle or Equipment in the current tax year? Take advantage of the IRS section 179 tax deduction for 2022 and put more cash in your pocket.
Let’s Finance You a New or Used Commercial Vehicle or Equipment and Put it to Use Before the End of the Year.
- Deduct up to $1,080,000 From Your Taxable Income
- Finance a Truck or Equipment Before the End of This Year
- New or Used Commerical Trucks & Equipment
- Guaranteed No Hard Inquiries – No Impact On Your Credit
- Quick & Easy Application Process
- Get Pre-Approved Today!
Section 179 Deduction for 2022
Section 179 allows a business to write off the entirety of an asset’s value for the year of initial use as an expense rather than as an asset, allowing the business owner to frontload the tax savings, reduce income taxes for the year, and effectively reduce the cost of purchase.
Putting more money back in your pocket!
How Do I Get The Section 179 Deduction?
Section 179 is an IRS tax deduction designed to help small to mid-sized businesses, like yours, that own and operate commercial vehicles and equipment.
To be eligible to take advantage of section 179 you have to purchase a commercial vehicle or equipment in the current tax year and put it to use before the end of the year.
Section 179 is not an automatic deduction, you have to elect it. To elect the section 179 tax deduction you have to fill out IRS form 4562.
Section 179 Deduction Limits
The 2022 Section 179 deduction limit is $1,080,000 on qualifying new or used commercial vehicles and equipment. The limit on vehicles and equipment purchases has increased to $2.5 million. This was enacted through the Tax Cuts and Jobs Act which was signed into law in 2017.
The bill allows businesses to depreciate 100% of the cost of eligible commercial vehicles and equipment that are purchased or leased from September 27, 2017, through 2022.
Want to Buy a Truck Or Equipment? TopMark Funding Can Help!
Looking to Buy a Commercial Vehicle or Equipment in the current tax year to take advantage of the IRS section 179 tax deduction for 2022? TopMark Funding can finance it!
- Get Approved for $250k Within 24 Hours – Application Only
- Guaranteed No Hard Inquiries – No Impact on Your Credit
- Great Service and Fast Funding
- Get Pre-Approved Today!
Our Process is Quick & Easy! Get Pre-Approved Today
Making smart choices with semi-truck leasing is critical to any trucking company working in logistics. Having up-to-date equipment to maximize efficiency and stay in compliance with the ever-changing regulations is important to a company’s growth and sustainability. We’ve made the funding process quick and easy so you can get funded fast and on the road.
- Apply Online: Fill out the quick and easy contact form. Or give us a call at (866) 627-6644
- Select a Solution: A truck leasing advisor will contact you to go over your funding and business needs. We want to understand your needs to find the best solution that meets your objectives. And help you grow your business.
- Review Documents: Once we have determined the best solution for you and your business, documents are generated and emailed for review and signature. An electronic signature is acceptable on most documents.
- Get Funded: After the signed contract is returned, we’ll process your documents. Most transactions fund within 1 to 3 days. Fast turnaround to get you the truck and equipment you want up and running.