Section 179 Tax Deduction

YOU DESERVE A BREAK THIS TAX SEASON
PUT FEDERAL TAX DEDUCTIONS AND CREDIT TO WORK FOR YOU
You could get more tax benefits when you purchase the vehicles that you need. Both large and small businesses may be eligible to immediately deduct up to 100% of the purchase price of qualifying vehicles. Beginning in 2024, businesses that purchase qualifying electric vehicles may qualify for a federal income tax credit of up to $7,500.*

How Does Section 179 Work?
Both new and used Cadillac models purchased in 2024 can qualify for the Section 179 tax deduction, so long as they're put into service by end of day on December 31, 2024. This advantage allows you to claim up to the entire purchase cost of the vehicle as a tax deduction.

The amount you can write off depends on how much the vehicle is used for business purposes. If you need guidance navigating an online Section 179 calculator or are curious to find out more about the possible tax savings under Section 179, reach out to our Sales Team today.
2024 ELIGIBLE VEHICLES

Whether you're interested in a new or used vehicle, it may be eligible for the 2024 Section 179 tax deduction -- what's important is that the vehicle is new to you. Most work-centric vehicles are eligible for the full deduction -- such as shuttle vans, classic cargo vans and other heavy equipment or "singular use" vehicles (like an ambulance or hearse).

Save up to $19,200 per vehicle on the CT4, CT5 and XT4.
Save up to 60% of the purchase price on XT5, XT6, Lyriq, Escalade and Escalade ESV.

Does the Cadillac Escalade qualify for Section 179? Yes, it does. Heavy SUVs with a GVWR between 6,000 and 14,000 pounds and that are used for business purposes at least 50% of the time are eligible for a max deduction of $28,900. So, you can partially write off a Cadillac Escalade.

The Cadillac vehicles eligible for partial Section 179 tax deductions in 2024 include:

Cadillac Escalade
Cadillac Escalade ESV
Cadillac Escalade Platinum
Cadillac Escalade ESV Platinum

How Can We Help?

* Indicates a required field

By submitting your contact information, you consent to be contacted by telephone, text, and email about purchasing a vehicle or obtaining vehicle financing. Clicking on the Submit button above is your electronic signature. Carrier charges may apply.

*Each purchaser's tax situation is unique and the available tax benefits and the applicable federal tax laws, regulations and guidelines are subject to change without notice. Therefore, customers must consult their tax advisor to determine the proper tax treatment of any vehicle purchase(s). For more information, visit www.irs.gov. This advertisement is for informational purposes only and should not be construed as tax advice or as a promise of availability or amount of any potential tax benefit or reduced tax liability.
Taxpayers may be entitled to U.S. federal income tax deductions and/or credits for purchases of vehicles that are placed in service in a trade or business during 2023. Determining the proper income tax treatment of any vehicle purchase requires careful consideration of several factors including, but not limited to, the applicable tax laws, regulations and guidelines, the characteristics and attributes of the particular vehicle purchased and the purchaser's income tax situation. Each purchaser's tax situation is unique and the available tax benefits and the applicable federal tax laws, regulations and guidelines are subject to change without notice. Therefore, customers must consult their tax advisor to determine the proper tax treatment of any vehicle purchase(s). For more information, visit www.irs.gov. This advertisement is for informational purposes only and should not be construed as tax advice or as a promise of availability or amount of any potential tax benefit or reduced tax liability.