Buying a Truck in Plano, TX Is a Great Tax Write-Off
Having a truck that works as hard as you do is essential for navigating the McKinney roads successfully. Besides extra towing power and payload capacity, there is a great financial benefit to having a truck that you may be unaware of. If you have a business of your own and need a work truck, you may be able to write off the truck in your tax returns. You will have to meet certain requirements, but you can learn the benefits and more with Hopper Motorplex. We at Hopper Motorplex want to help you invest in your business by providing high-quality work trucks in our vehicle inventory, so feel free to check out what we have available in-person or online.
Benefits of a Work Truck
Before we jump into the financial benefits that a business work truck can provide, let’s go over some of the benefits of a work truck in general. One of the obvious benefits of a work truck is towing and hauling power. Even if you have a lighter-duty work truck, you can still haul a pretty heavy load through the McKinney roads with relative ease. Plus, you have a higher payload capacity than most other vehicle types due to the large bed truck and durable frame. This allows you to haul work supplies, camping supplies, vacation supplies, or anything else you might need to bring with you. Most recent trucks have pretty luxurious interior amenities and safety features to help keep you comfortable and secure wherever you go.
Trucks as a Tax Write-Off
Because you own a business and have a work truck that you use for your business, you can be entitled to a tax write-off, which will allow you to get some money back in your tax returns. How much money you get back will depend on how much you purchase a truck for and what tax bracket you fall into. However, in order for a truck to be eligible for deductions, it must meet certain criteria. First off, you have to have purchased the before the end of the calendar year, so no later than December 31. The truck must also have a GVWR rating of over 6,000 pounds. Lastly, you must be able to show that the truck has been used for at least 50% of business purposes.
Invest in Your Business with Hopper Motorplex
Everything in your business is an investment and a worthy one. Your work truck is among one of those worthy investments that will help propel your business into a successful venture. At Hopper Motorplex, we have heavy-duty vehicles to help you get your business off the ground and where you want it to go. Explore our inventory and find the right work truck for your unique business.
Find Your Truck at Hopper Motorplex
Let us help you invest in your business and get the right work truck for you. Contact us to explore our inventory and even apply for financing to save time at our dealership.