Are a business that purchased or financed new or used business equipment—including certain business-use vehicles—during the 2024 tax year
Put the equipment into service between January 1, 2024, and December 31, 2024
Used this equipment for business purposes more than 50% of the time
Spent less than $4,270,000 on this equipment
Section 179 Tax Savings
What are the dollar amount limits on claiming a section 179 tax deduction?
These are the limits:
You cannot write off more than $1,220,000
The total amount of the equipment purchased cannot be more than $3,050,000.
It phases out dollar-for-dollar after that, so once $4,270,000 is spent, the deduction goes away entirely.
*The incentive referenced is for informational purposes only. This information does not constitute tax or legal advice. All persons considering the use of available incentives should consult with their tax or legal professional to determine eligibility, specific amount of incentives available if any, and further details. The incentive is not within Mercedes-Benz control and is subject to change without notice. Interested parties should confirm the accuracy of the information before relying on it to make a purchase.