JAX Chamber: Take Advantage Of New Tax Benefits

Press release from the JAX Chamber:

October 18, 2021

Federal tax depreciation deductions are only available for vehicles used in a trade or business, and are subject to change without notice. Each taxpayer’s tax situation is unique—please consult your tax advisor to determine your business’s vehicle depreciation deduction. For more information, visit irs.gov. This advertisement is for informational purposes only, and should not be construed as tax advice, or as a promise of the availability or amount of any potential tax benefit or reduced tax liability.

2Trucks, vans and sport utility vehicles as defined in the Internal Revenue Code with a GVWR over 6,000 lbs. and placed in service during 2019 qualify for immediate depreciation deductions of up to 100% of the purchase price.

This press release was produced by the JAX Chamber. The views expressed here are the author’s own.