Tax Deductions and Credits Available for Chevrolet Vehicles

Small business owners can take advantage of tax deductions and benefits at Alsop Kentland Chevrolet. With business and commercial vehicle tax deductions and clean vehicle credits available for 2023, there are many ways to save on your next business vehicle. Our dealership is a great place to shop for your next commercial vehicle with our wide inventory of new and used commercial work trucks and plenty of clean, electric vehicle options for your passenger needs. Any vehicle purchase for your business qualifies for Section 179 of the IRS code to recoup depreciation and business expenses to keep more profits and allow you to invest in fleet vehicles to grow your business capabilities.

At Alsop Kentland Chevrolet, you'll find a great selection of new and used work vehicles to fit your needs. You can even work with our experts on customizing a new work truck or cargo van tailored to your unique business needs to maximize efficiency and profits. We look forward to helping you grow your business by arming you with all the tools you need to take full advantage of commercial vehicle tax savings.

How Section 179 Applies to Fleet Vehicles

Section 179 of the IRS tax code allows small to medium businesses to deduct 100% of the purchase price of a new or used work truck or vehicle and up to $19,200 for a fixed deduction on passenger-type vehicles that could double as personal vehicles. The flexibility for vehicle types, including a new or used model, allows you to invest in your business in the best way that benefits your bottom line.

When you purchase a vehicle at Alsop Kentland Chevrolet from now until December 31, 2023, you can deduct the purchase price and use costs for your 2024 tax return as long as you start using the vehicle for business purposes during the 2023 calendar year. Explore all our Chevy vehicle lineup and available work vehicles to start boosting your business right away!

What Are the Qualifications for Full Section 179 Benefits?

Navigating the tax implications for your business fleet can be tricky due to ever-evolving changes from the IRS. While our Finance Department at Alsop Kentland Chevrolet is a wealth of information and can help you choose the best vehicles for your business needs, it's important to check with your tax preparation experts to review your potential tax credits and qualifying deductions.

Vehicles that are strictly work vehicles and not likely to be used for personal use qualify for the full 100% Section 179 deduction. If you purchase a new or used work truck, you can deduct 100% of the purchase price. Chevy Silverado 1500 and our heavy-duty pickup trucks will qualify if they have the longer (at least six feet) bed option. 

Typical work vehicles that qualify include the following:

  • Silverado 3500 Chassis Cab
  • Express Cutaway
  • Silverado 4500 HD
  • Silverado 5500 HD
  • Silverado 6500 HD
  • Low Cab Forward
  • Express Cargo Van
  • Express Passenger Van

Other Vehicles that Qualify for 100% Section 179 Benefits

Some of our Chevrolet pickup trucks and SUVs that are not exclusively work vehicles also meet the minimum standards for the full Section 179 deduction:

  • Blazer
  • Colorado (exclusively the 2.8-liter with four-wheel-drive)
  • Suburban
  • Tahoe
  • Traverse

Limited Section 179 Deductions: 

Passenger Vehicles for Business Use

For 2023, you can deduct up to $19,200 for passenger vehicles and up to $27,000 for larger SUVs with no aggregate limit. The following vehicles, if used for business purposes, qualify for Section 179 with limits:

  • Bolt EV
  • Bold EUV
  • Camaro
  • Colorado (except the 2.8L with four-wheel drive, which qualifies for 100% deduction)
  • Corvette
  • Equinox
  • Malibu
  • Spark
  • Trailblazer
  • Trax

Clean Vehicle Tax Credits for 2023

Thanks to the Inflation Reduction Act of 2022, you can also receive a tax credit if you purchase a plug-in hybrid or all-electric vehicle for your business. The following vehicles qualify for Section 179 and the clean vehicle tax credit up to $7,500 each:

  • 2022 and 2023 Chevrolet Bolt
  • 2022 and 2023 Chevrolet Bolt EUV

Find Your Next Commercial Vehicle in Kentland, IN

While we have outlined the Chevrolet vehicles that qualify for Section 179 and the clean vehicle tax credit, we also have a great selection of used work vehicles at Alsop Kentland Chevy that can also qualify for tax breaks and deductions. Contact our team to find the best options for your business. We are happy to assist you every step of the way so you can maximize your savings and increase your business capabilities.

  1. Alsop Kentland Chevrolet

    308 W Seymour St
    Kentland, IN 47951

    • Sales: (219) 474-6144
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  • Contact our Sales Department at: (219) 474-6144
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