At Truck Country, we always feel the time is right to buy a quality new or used truck. But with the clock ticking away on 2013, the time might never be better to add a truck to your fleet.
As stimulus-created tax breaks are scheduled to run out at the end of the year for commercial vehicles, time is running short for businesses to take advantage of an opportunity to write-off a portion of qualified capital expenditures.
According to Successfuldealer.com, the write-off is done by front-loading depreciation schedules for commercial vehicles weighing more than 6,000 lbs.
Also in an effort to encourage equipment purchases, the initiative allows businesses that spend more than $2 million on new equipment in 2013 are offered bonus depreciation
Those who are interested in investing in a truck must do so fast. Trucks must be on the road by Dec. 31 to qualify for the initiative, and it is unclear if the tax breaks will be rolled over to 2014.
For more info, visit www.section179.org .