Take Advantage of Section 179 Tax Savings
For immediate release
Reminder from H.K Truck Center: Section 179 Allows Truck Buyers to Expense up to $25,000 on All Work Truck Purchases in 2014!
South Plainfield, New Jersey — H.K. Truck Center advises that the U.S. Internal Revenue Code, Section 179 (commonly referred to as IRC-179) allows businesses to expense up to $25,000 in tax year 2014 for certain capital expenditures, including all Hino and Mitsubishi Fuso truck models.
Normally, capital expenditures must be handled as depreciable assets. However, provisions of IRC-179 allow a taxpayer to elect to treat the cost of qualifying Section 179 property as an expense in the tax year in which the equipment is placed in service, rather than as a depreciable asset charged to a capital account. For qualifying equipment placed in service in a business’s tax year beginning in 2014, the limit is $25,000.
Specific provisions and restrictions do apply, and every business’s tax situation is unique, so business owners should consult their own tax accountants or attorneys to determine how much tax saving, if any, IRC-179 could provide.
For more information about qualifying Fuso or Hino trucks, call Bert at (908) 754-3330 Ext. 12.
About H.K. Truck Center
Headquartered in South Plainfield, H.K. Truck Center is an authorized Hino and Mitsubishi Fuso dealer for your trucks, truck parts, and service needs. In business since 1982, H.K. Truck Center offers a one-stop solution for medium-duty truck sales, parts, service, rental and leasing and is focused on providing its customers with quality Fuso and Hino trucks that offer the lowest cost of ownership in their class. It provides more than 25 full-time and part-time jobs in the community in which it operates. For more information, visit hktruck.com, follow us on Twitter at @HKTruckCenter, or see our Facebook page at Facebook.com/HKtruckcenter.
For more information, please contact:
Bert J. Dreossi
Phone: 908.754.3330 ext. 12